Wichita Festivals Inc.

“The audit committee and board of directors review audit results prior to filing form 990. The president/ceo and the vp finance review the 990 prior to filing. The 990 is made available to the board prior to filing by providing it via email to the board members prior to the meeting held in march of each year.”

“Transactions for purchases over $1,000 require bids. Bids are monitored by employees' supervisors. A minimum of three bids is required unless it is not feasible to do so. Companies in which a member of the board of directors has ownership are eligible to bid. Board of directors monitors bids by board members' companies. Board of directors performs self-evaluations each month to determine if board policies are follwed.”

“The organization has a compensation committee which determines the president/ceo's annual compensation. The committee uses comparable data. Key employees have evaluations also. Salaries are approved through the annual budget.”

“Form 990 is available on guidestar (another's website); form 1023 and form 990 is also available upon request at the organization's office.”

“Governing documents, policies and financial statements are available upon request at the organization's office.”

“Sound and lighting: program service expenses 103,683. Management and general expenses 0. Fundraising expenses 0. Total expenses 103,683. Food & beverage: program service expenses 44,596. Management and general expenses 17,849. Fundraising expenses 0. Total expenses 62,445. Event expense: program service expenses 32,869. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,869. Other: program service expenses 25,203. Management and general expenses 2,283. Fundraising expenses 1,131. Total expenses 28,617. Trash: program service expenses 28,499. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,499. Volunteer recognition: program service expenses 15,255. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,255. Repairs & maintenance: program service expenses 0. Management and general expenses 1,317. Fundraising expenses 0. Total expenses 1,317. Income taxes: program service expenses 0. Management and general expenses -1,035. Fundraising expenses 0. Total expenses -1,035.”

“The audit committee process of oversight of the audit has not changed from the prior year.”