Minnesota Excellence in Learning Academy

“At an annual meeting or any special meeting properly called, parents and employees of the academy shall be permitted to vote to elect directors. Members of the academy having the right to elect directors, shall elect the directors in accord with the outcome of voting by the parents, guardians and staff employed by the academy.”

“The school meets with their financial manager and walks through the draft 990 and then it is presented to the board. The financial manager and director of operations walk through the significant pieces of the 990 and then the board approves the filing.”

“Compliance with the conflict of interest policy is reviewed at board meetings.”

“Comparable salary data from similar schools in the area is compiled. The salary schedule is then presented to the board as part of the budget process.”

“Mela's governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in section 6104(d).”

“Related board members: per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Olivia hermans and isabel resler are board members, but received compensation for their services as teachers.”

“Other purchased services: program service expenses 168,732. Management and general expenses 34,950. Fundraising expenses 0. Total expenses 203,682. Transportation: program service expenses 626,190. Management and general expenses 0. Fundraising expenses 0. Total expenses 626,190. Food service: program service expenses 211,192. Management and general expenses 0. Fundraising expenses 0. Total expenses 211,192.”

“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the net pension liability, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”

“Pension liability adjustment 24,357.”