St Cloud Math and Science Academy Inc

“Each parent, teacher and staff person of the school has one vote to elect school board members.”

“Each board members receives a public disclosure copy of the 990 prior to filing. The board of directors has granted authority to the executive director to sign and submit the 990 to the irs.”

“It is the policy of the school board to conform to statutory conflict of interest laws and act in a manner that will avoid any conflict of interest. Purchasing, procurement and contracting policies established procedures to carry out purchasing, procurement and contracting functions of the school. These policies provide efficient management of public monies and compliance with all applicable state and federal laws. There is a conflict of interest section during all board meetings in which members need to disclose if they have any conflicts of interest to the items that are being discussed and voted on.”

“The salaries of the executive director and all staff are determined by the board based on comparable charter school data.”

“The organization's governing documents, conflict of interest policy and financial statement are available upon request.”

“Per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Amy cross, andrew schultz, and alex johnson all served as board members but received compensation for their services as teachers.”

“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.”

“Gasb 68 - pension adjustment -298,654.”

“The board is responsible for selection of an independent accountant and for the oversight of the financial statement audit. This process has not changed from prior year.”