Utah Symphony & Opera

“In the absence of Board action or in the event that the Board is unable to take action on a particular matter, the Executive Committee shall have all of the powers and exercise all of the duties of the Board in managing the business of the Corporation. Any such action taken by the Executive Committee in the absence or inability of the Board to take action shall be considered for ratification by the Board at the next regular meeting or special meeting of the Board.”

“Our board is made up of community leaders and as such some business relationships exist and our conflict of interest policy and process adequately reveals and manages these so they are not conflicts for the organization.”

“The Corporation may have three or more appointed ex officio voting Trustees of the Board. These positions shall be comprised of the following: (i) one Ogden Opera Guild representative; (ii) one Utah Symphony Guild representative; (iii) one Ogden Symphony Ballet Association representative; and (iv) such representatives of auxiliary and advisory organizations and guilds as elected by their respective organizations and guilds. Two Musicians, as provided in the Collective Bargaining Agreement between the Corporation and American Federation of Musicians, Local 104, are voting Trustees of the Board.”

“Prepared by CFO, reviewed by Finance and Executive committees, posted to website for entire board review.”

“The values governing the affairs of Utah Symphony & Opera (US&O) are Excellence, Integrity, Trust, and Communication. Staff members are encouraged in their individual capacities to represent these values and to exemplify the highest standards of ethical behavior in all they do and say. They are thus encouraged to do their utmost to respect the rights and dignity of other persons; to be honest, accurate, and open-minded in the presentation of information and ideas; when accounting for US&O's assets or handling financial transactions; when soliciting contributions; when representing US&O before governmental leaders, charitable foundations, patrons, and donors; or when dealing with vendors, partners, lessees, and other parties. A conflict of interest is defined as any circumstance that would cast doubt on the ability of a member of the staff to act with total objectivity with regard to the US&O's best interest. No member shall use his or her position, or the knowledge gained from his or her position, or the knowledge gained from his or her position, in such a manner that a conflict arises between the interest of the organization and the staff members' personal interests. An actual or potential conflict of interest may occur when an employee is in a position to influence a decision that may result in personal gain for that employee or for a relative as a result of business dealings. For the purposes of this policy, a relative is any person who is related by blood or marriage, or whose relationship with the employee is similar to that of persons who are related by blood or marriage. Utah Symphony & Opera relies on its employees to exercise their responsibilities to the organization in good faith. As a consequence of representing Utah Symphony & Opera, employees may be in a position to establish personal relationships with patrons and donors or obtain confidential information concerning them. Employees may not, directly or indirectly solicit or accept money, loans, expensive gifts, travel, extravagant entertainment, or preferential treatment from such individuals. Employees may not use any information obtained about patrons and donors to further their personal interests during their employment with US&O or after their termination with US&O. In addition to this, the materials, products, designs, plans, ideas, and data of US&O should never be given or sold to an outside agency, firm or person except through normal channels and with appropriate authorization. Any improper transfer of material or disclosure of information, even though it is not apparent that an employee has personally gained by such action, constitutes unacceptable conduct. Any employee who participates in such a practice will be subject to disciplinary action, up to and including possible discharge. Having a conflict of interest may not necessarily indicate a professional transaction cannot occur. However, it is the duty of each staff member to disclose annually any actual or possible conflicts of interest in writing to the Director of Human Resources and Department Head. In the absence of an HR director all disclosures may be communicated to the COO. The employee is expected to provide all material facts and personal interests that may be determined to present a conflict of interest before any discussion or negotiation of a transaction takes place. Immediately upon becoming aware of the possible conflict of interest, the Director of Human Resources and Department Head will discuss the conflict with the COO to determine whether a particular conflict of interest is fair to the organization. The Director of Human Resources, and or Department Head will respond in writing to the employee within 30 days of disclosure. If agreement is not reached, the final determination will be made by the President/CEO.”

“League of American Orchestras Survey for salaries, Opera America, recruiting firm using comparable data, task force of board members as a search committee.”

“We post to our website, provide copies upon request as well as publishing board meeting schedules in the newspaper which allows interested persons to attend meetings and request information. Conflict of interest policy is distributed annually.”

“Endowment Draw - $1,650,653; Interest/Dividends - $6,880; Gain from Sale of Assets - $45,977; Unrealized Losses -($22,386); 5% Draw being Released from Board Rstr - ($138,046); Interest/Dividends-Board Restr - $60,621; Realized Gains-Board Restr - $415,174; Unrealized Losses-Board Restr - ($258,136)”

“Guest Artists $1,917,655; Guest Conductors $636,654; Travel $217,199; Misc $68,015.”

“Government grants for future period-temporary restricted - $765,076; Government grants from prior period released to operations - ($1,109,072); Contributions for future period-temporary restricted - $1,149,821; Contributions from prior period released to operations - ($3,573,677); Contributions to endowment-permanent restricted - $818,962; Interest-temporary restricted - $6,889; Interest-permanent restricted - $163,459; Dividends-temporary restricted - $14,131; Dividends-permanent restricted - $323,535; Unrealized losses-temporary restricted - ($90,529); Unrealized losses-permanent restricted - ($2,084,029); Realized gain-temporary restricted - $140,492; Realized gain-permanent restricted - $3,264,904; Draws from endowment-temporary restricted - ($129,430); Draws from endowment-permanent restricted - ($1,383,177); Management and general expenses-temporary restricted - ($5,718); Management and general expenses-permanent restricted - ($132,497); Allowance for bad debts-temporary restricted - $241; Allowance for bad debts-permanent restricted - $1,045.”