Housing Assistance Council

“The federal form 990 tax return for hac is prepared by an independent auditing firm who also conducts the annual financial audit of hac. The tax return is reviewed by hac's finance & administration director and by hac's executive director. The tax return is also subjected to reviews by hac's board of directors before it is filed with the internal revenue service.”

“Each director, principal officer and member of a committee with board-delegated powers shall annually sign an annual statement. The executive director or his designee shall review all statements submitted. Interested persons (board and staff) that have a direct or indirect financial interest must disclose the nature/facts of the conflict. On transactions that will be conducted with relationships that might involve parties that could be construed as conflict of interest, staff and management will discuss with legal counsel, and/or the board of directors such potential conflicts of interest prior to entering into any such agreements or needing approval for such events. Staff will primarily determine whether the organization creates a potential conflict of interest. A discussion will be held with the management and verified by a legal counsel if a new transaction type arises. For board members, such disclosures are put in writing by the board members and retained by management. If the board of directors or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the board of directors or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action such as disqualifying the employee for particular assignments and separation.”

“There is an annual evaluation conducted for all key personnel by the executive director. For the executive director, an executive compensation committee of the board of directors evaluates this position. For all positions, the executive director and board of directors are afforded a regional annual compensation survey of key positions to determine the fairness and comparable rates based on size and budget of similar organizations. For key personnel, the executive director makes compensation adjustments based on merit or cola. For the executive director, the executive compensation committee meets at least annually to recommend compensation adjustments to the executive director's salary. Adjustments to all personnel compensation are incorporated into the annual operating budget. As part of the budget presentation, management reports on compensation adjustments to personnel line item costs to the board finance committee, then to the entire board of directors. The board of directors is afforded opportunity to raise questions if necessary. Compensation adjustments to the executive director's compensation are presented by the executive compensation committee to the full board of directors, in executive session, for approval. Minutes are taken of the executive committee meeting and held by hac's general counsel.”

“Hac provides its governing documents and the conflict of interest policy upon request. The annual financial statements are made available to the public both through annual report and also upon request.”