Trinity College

“The form 990 will be provided to the governing body, and all board members are invited to participate in a formal review meeting conducted by the audit committee.”

“Trinity has vigorous conflict of interest policies covering the board of trustees, faculty and staff. The board of trustees members submit annual conflict of interest statements and these are reviewed by legal counsel, who reports results to the audit committee. Staff is covered by the conflict of interest policy in the employee handbook, and executive staff also submit written statements to the president. The president reviews any potential conflicts with legal counsel. Faculty is covered by the conflict of interest policy in the faculty handbook. Faculty also complete written declarations, which are reviewed by the president and any potential conflicts are reviewed with legal counsel.”

“For the president, an independent review committee of the board of trustees reviews compensation and comparability data from trinity's benchmark comparison cohort. For other officers (the chief financial officer and the chief academic officer), the board reviews and approves appointments and compensation at the recommendation of the president, and cohort comparison salary data is also used.”

“The form 990 and 990t are available on guidestar.org or upon written request.”

“All items are available on trinity's website. The governing documents can be found at http://www.trinitydc.edu/policies/, along with the conflict of interest policy, which is discussed under the general "risk management" policy. The conflict of interest policy is also discussed in the employee handbook, at http://www.trinitydc.edu/hr/employee-handbook-part-iii/#e. In addition, trinity's audited financial statements are available at http://www.trinitydc.edu/finances/.”

“Change in fmv of swap agreement -1,061,537. Change in fmv value of funds held by others 263,430.”

“The audit committee assists the board in its oversight of the integrity of the financial statements of the college, of the quality and efficacy of financial controls, of the college's compliance with legal and regulatory requirements, of the independence and qualifications of the independent auditor, which the board retains upon the recommendation of the audit committee. The audit committee is responsible for overseeing the annual audit, receiving the report of the auditors and reporting the results of the audit to the board in a timely way. The audit committee consists of no fewer than three (3) independent trustees, appointed by the chair of the board, who have the requisite financial and audit expertise to fulfill the duties of the committee. The president may not serve as a member of the audit committee, but the committee may request that the president attend portions of meetings as necessary. The vice president for financial affairs is the staff liaison to the audit committee but is not a member of the committee.”