New Century School

“Any staff members who are employed at the school, including teachers, all parents/legal guardians of children enrolled in the school, and board members may participate in the election of the board of directors.”

“Form 990 reviewed by the school's executive director who is authorized by the board of directors to approve its submission.”

“Officers, directors, and key employees review this policy at start of each year and each is asked if they have any conflicts or potential conflicts to disclose. If so, they are asked to identify them in detail.”

“The school makes its governing documents, conflicts of interest policy, and financial documents available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Jessica tallman is a board member, but received compensation for her services as a teacher.”

“Misc contracted services: program service expenses 287,916. Management and general expenses 271,908. Fundraising expenses 0. Total expenses 559,824. Transportation: program service expenses 1,583,428. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,583,428. Food service: program service expenses 796,133. Management and general expenses 0. Fundraising expenses 0. Total expenses 796,133.”

“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 expense relating to net pension liabilities -540,674.”