Tapestry School Inc.

“Tapestry presented to its board a watermarked copy of Form 990 as part of its advance materials for a regularly-scheduled board meeting. The advance copy of the agenda also included review of the Form 990 as an agenda item. The board discussed the Form 990 during the designated board meeting, and approved the copy of Form 990 as presented during the designated meeting.”

“Tapestry requires that each board member sign and reaffirm a conflict of interest statement each year. Additionally, all board members are required to attend 10 hours of governance training on an annual basis.”

“Tapestry has one highly compensated employee, as disclosed in Part VII, Section A. The employee, who was hired as principal of Tapestry following a national search, was previously an employee in a California school system. The employee's compensation package was determined by Tapestry's Nominating and Finance committees, following an evaluation of California and Georgia pay scales, California and Georgia retirement pay, moving costs, and comparable salaries of principals of charter schools in the metropolitan Atlanta area. The employee's performance is reviewed annually by Tapestry's Academic Excellence committee, which works with the Finance committee to determine any future adjustments to compensation.”

“Tapestry makes its audited financial statements, Form 990, charter documents, board of director minutes, committee minutes, and schedule of upcoming meetings available on its website, www.tapestrycharter.org.”

“Prior to receiving its charter and opening for its first year of school, Tapestry utilized the cash method of accounting. During its first year of operations, FYE June 30, 2015, Tapestry converted to the accrual basis of accounting, as required by the Georgia Department of Education.”

“Tapestry converted to reporting its financial statements in accordance with Governmental Accounting Standards Board, resulting in an adjustment to its beginning fund balances.”

“Substitute teachers 26836. 26836. 0. 0.”

“Employee testing 1800. 1800. 0. 0.”

“Food service expenses 30651. 30651. 0. 0.”

“Board training expense 1250. 0. 1250. 0.”

“Recruiting expense 1250. 1250. 0. 0.”

“Special event costs 8397. 0. 0. 8397.”

“Clubs and athletics 9890. 9890. 0. 0.”

“Instructional supplies 34519. 29179. 5340. 0.”

“Support supplies 4541. 4541. 0. 0.”

“Photocopy expenses 8259. 8259. 0. 0.”

“Principal's fund 11226. 11226. 0. 0.”

“Software expense 14181. 14181. 0. 0.”

“Computer expenses 5037. 5037. 0. 0.”

“Dues and fees 2643. 2643. 0. 0.”

“Miscellaneous expense 212. 212. 0. 0.”