Horizons K-8 School Inc

“The executive committee consists of four directors designated by the full board, and shall include at least two faculty directors and at least two parent directors. The executive committee shall have all of the power and authority of the board of directors between meetings of the board, except as prohibited by the act.”

“The school has two classes of members. Voting members include faculty, staff, and parents/legal guardians of students enrolled in the school. Nonvoting members includes all of the students enrolled in the school.”

“Faculty and parents of students currently enrolled at the school are each entitled to up to six board positions. The six parent directors shall be elected by the voting members at the annual meeting of the members. The principal or head of school shall automatically be a faculty director. The remaining five faculty directors shall be elected by all teachers at the annual meeting of the members.”

“Per the bylaws, certain amendments to the school's governing documents require approval by the voting members.”

“The form 990 is prepared by the organization's public accounting firm based on information provided by the management. Once a draft of the filing is available, the head of school and business manager will review the 990, and the board will review it as well. Any concerns will be communicated to the third party accounting firm immediately.”

“Each director, principal officer, and committee member with governing board delegated powers annually sign a statement which affirms such person has received a copy of the policy, has read and understands it, and has agreed to comply with it. If a director or officer is aware that horizons is about to enter into any transaction or make any decision involving a conflict of interest, such person shall: (i) immediately inform those charged with approving the conflicting interest transaction on behalf of horizons of the interest or position of such person or any party related to such person; (ii) aid the persons charged with making the decision by disclosing any material facts within the responsible person's knowledge that bear on the advisability of horizons entering into the conflicting interest transaction; and (iii) not be entitled to vote on the decision to enter into such transaction. Discussion of any conflicts occurs at the board meetings and are documented in the board minutes.”

“The board has an appointed compensation committee that reviews and determines employee salaries and benefits for all employees including licensed teachers. Per section 5.3(d)(ii) of the school's bylaws, no faculty board member may participate in the final deliberations or determinations of compensation. The school uses a board-approved salary schedule, along with appropriate data comparing compensation paid by similar organizations. All decisions are documented in the board minutes. This process takes place annually for all employees, most recently in 2018.”

“The 990 and conflict of interest policy are available upon written request to the school. The audited financial statements are posted on the school's website.”

“W-2s and 1099s are issued by the boulder valley school district and not by horizon's k-8 school. Payroll is processed by boulder valley school district and reimbursed by horizon's.”

“Other professional service fees: program service expenses 17,937. Management and general expenses 34,139. Fundraising expenses 0. Total expenses 52,076. Purchased services from bvsd: program service expenses 255,391. Management and general expenses 549,462. Fundraising expenses 0. Total expenses 804,853.”

“Net change in pension liability 914,901. Noncash donated auction items not inluded in revenue in financial stmts -20,678.”

“The school follows a modified accrual method of accounting. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”

“The process for the oversight of the audit and selection of an accountant has not changed from the prior year.”