Cottey College

“The board of trustees at cottey are appointed by the international p.e.o. Sisterhood.”

“The 990 is prepared by the auditing firm and reviewed by cottey college's vp for finance and administration and the controller.”

“The board of trustees all fill out a conflict of interest statement on a yearly basis. The statement is reviewed by the audit, compliance and risk committee. The leadership team is also required to fill out conflict of interest statements. Those statements are reviewed by the president. If a potential conflict is noted those are investigate don a case by case basis. A trustee shall be considered to have a conflict of interest if he or she (1) has existing or potential financial or other interests that impair or appear to impair his or her independent, unbiased judgment in the discharge of his or her responsibilities to the college; or (2) is aware the a member of his or her family has financial or other interests that would impair or appear to impair the trustee's independent judgement in the discharge of his or her responsibilities to the college. For the purposes of this provision, a family member is defined as spouse, parent, sibling, child or any other relative residing in the same household as the trustee. All trustees shall disclose to the board any possible conflict of interest at the earliest practical time. Further, the trustee shall excuse himself or herself from the discussion of, and abstain from voting on, such matters under consideration by the board of trustees or its committees. The minutes of such meeting shall reflect that a disclosure was made and that the trustee with a conflict or possible conflict was excused from voting. Any trustee who is uncertain as to whether a conflict of interest may exist in any matter may request the board or committee resolve the question in his or her absence by majority vote. Each trustee shall complete and sign a disclosure form provided annually by the secretary of the board of trustees.”

“The salaries are reviewed by the board on an annual basis within the budget process. In addition the college looks at the industry publications when looking at salaries. The executive committee of the board of trustees conducts an annual evaluation of the president and also reviews average compensation figures from a salary survey conducted by a professional organization. Deliberation is documented in the board minutes and also kept in the personnel files.”

“Documents are made available to the public upon written request to the institution.”

“Change in split interest agreements -12,523. Change in beneficial interest in perpetual trusts 1,970,194. Property transfers to p.e.o. Sisterhood -4,920,381.”

“The audit oversight process has not changed from prior year.”