Oregon Virtual Education

“During 2014-15, no committee had authority to act on behalf of the governing body.”

“A copy of the draft of the 990 is available for all voting members of the board to review between three to five business days before it is signed and submitted to the internal revenue service. Each board member is notified and an electronic copy is available upon request.”

“The board of directors, paul zastrow, kerri smith (the principal), and marghee (the program coordinator) are all covered under the policy. The organization monitors compliance with the policy by the a/p approval process (in terms of vendors used). The expectation is that board members will come forward if they know of a conflict. This is how a determination would be made that a conflict of interest exists. If a conflict of interest arises, the interested party will abstain from voting or taking part in the decision making process for that particular situation.”

“The organization's governing documents, policies, and financial statements are generally not available to the public but available upon request.”

“Oregon Virtual Education implemented GASB 68 and 71. This implementation was compulsory for the Organization. These GASBs changed the timing of the when PERS contributions were recognized (recording PERS contributions as part of the change in deferred flows instead) and the Organization must now show an asset or liability for its proportionate share of the statewide PERS pension or liability, which is determined by an actuary. The beginning net position was restated at July 1, 2014 based on these new provisions. The June 30, 2014 ending net position has not been restated because the information is not available and it's not possible to acquire.”

“Oregon virtual academy has two locations and receives two separate sets of audited financial statements. The financial statments are combined and reported together for form 990.”