Mastery Charter School - Clymer Elementary

“The ceo and board of directors review form 990 before it is submitted to the irs”

“Employees may not receive any material gain from individuals or activities outside of mastery charter schools for materials produced or services rendered while performing their jobs. Board members are also covered by a conflict of interest policy. Board members also provide statements of financial interest on an annual basis, which would disclose any conflicts.”

“Officer compensation is reviewed and approved annually by the board of directors. A compensation committee uses survey data and information from comparable organizations' form 990 to analyze and compare ceo compensation and make recommendations to the board for its approval.”

“Mastery charter school clymer elementary's governing documents, conflict of interest policy and financial statements are available upon request.”

“Consultants: program service expenses 169,837. Management and general expenses 5,538. Fundraising expenses 0. Total expenses 175,375. Professional services: program service expenses 471,109. Management and general expenses 15,485. Fundraising expenses 0. Total expenses 486,594. Substitutes: program service expenses 107,227. Management and general expenses 0. Fundraising expenses 0. Total expenses 107,227. Kaps placements: program service expenses 80,030. Management and general expenses 0. Fundraising expenses 0. Total expenses 80,030.”

“The finance committee of the board of directors assumes responsibility for oversight of the annual audit.”

“During the fiscal year ended june 30, 2015, the school implemented gasb issued statement no. 68, accounting and financial reporting for pensions. The purpose of the gasb statement is to ensure that all future actuarially calculated pension obligations are appropriately reflected on the entity-wide financial statements including the school's proportional share of the actuarial valuation of the net pension obligation of the public school employees' retirement system (psers). As a result, the school was required to record a previously unreported net pension liability which resulted in a significant decrease in net assets as of july 1, 2014. The implementation of the new gasb is not a reflection of the school's ability to operate effectively and meet current obligations.”