Associated Colleges of the Twin Cities

“The associated colleges of the twin cities board delegates the review and approval of the form 990 to the actc audit committee. The actc audit committee is sent a copy via email, and has one week to review and send approval of the form 990. The approved form 990 is then sent via email to each actc board member.”

“Actc has a conflict of interest policy that covers directors, officers, or any member of a committee with board-delegated powers. Each director, officer or member of a committee with board-delegated powers shall complete and sign a conflicts of interest policy annual statement at the time of his or her initial election or appointment and annually thereafter. A conflict of interest arises if an individual has ownership or investment interest, compensation arrangement, or potential ownership or investment interests in an organizaton with which actc has a transaction or arrangement with. Any potential conflicts of interest are reviewed by the board to determine if a conflict of interest in fact exists. All proceedings related to conflicts of interest are documented in the meeting minutes or as otherwise appropriate.”

“The executive director is granted a salary increase at the discretion of the board of directors. The overall range for salary increases is recommended by the business officers council as part of the annual budgeting process. The precise increase is determined by the board, and is generally in keeping with the range of salary increases, if any, granted at the member institutions.”

“Actc makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The associated colleges of the twin cities (actc) advances collaboration, implements sustainable models and methods, and enhances the academic excellence of our member institutions in celebration of the urban liberal arts experience. Actc advances joint activities that are possible only when its members pool their resources. In academics, the actc members share planning and programming. This sharing reduces repetition on each campus; sustains courses or programs that could not be run independently on each campus; and makes it possible to showcase student work in areas with only a few students per campus, by drawing on the larger number of students across the consortium. In operations, the actc members share purchasing activities when doing so either drives down the cost or increases the value of the goods and services procured. The actc office manages a number of contracts to which its members and associate members have access. In addition, the actc members pursue opportunities to collaborate in business services.”

“The university of st. Thomas acts as actc's fiscal agent, which entails recording cash reporting, receipts and disbursements, processing payroll, and holding excess cash. The university of st. Thomas employs all of the personnel that are performing duties for the exclusive benefit of actc. Accordingly, all w2's & 1099's are processed by the university of st. Thomas and all tax reporting is done through utilizing the university of st. Thomas as the payor. The actual wages of the employees are accounted for as actc direct compensation expense, as reported in the statement of functional expense.”