The Masonic Home for Children at Oxford

“All members of the board receive a copy of both the independent audit report and the form 990. Management and the board review these documents to compare audited financial statement numbers with the 990 breakdown and to reconcile and verify that totals in the two documents match. Accompanying explanatory statements in the 990 are reviewed to ensure they clarify pertinent data. Analysis of the distribution of expenses by functional area is made for unanticipated deviation and to determine if revision of the distribution ratios is necessary. Comparison of functional area expenses is made with prior year to identify trends. Review is made of the reconciliation of audited financials with the 990 totals, including transactions such as unrealized gains/losses, donated services, etc., to isolate actual revenues and expenses and analyze cash flow. Comparison is made of the percentage of expenditures in the functional areas as compared to total expenditures. Areas of concern of reallocation of expenses to functional areas are addressed by the management team. The audit committee of the board of directors reviews the draft audit and form 990 with the auditor. After all questions are answered to the satisfaction of the audit committee, it will present its recommendation to the board chairman. The chairman presents the recommendation to the board of directors or the executive committee, as appropriate, for final approval.”

“The conflict of interest policy is explained during staff training and orientations and all board members and staff are asked to sign a conflict of interest statement each year. The board chairman and administrator, as appropriate, ensure that any board or staff members with a potential conflict of interest in any matter under consideration are excluded from the discussion and decision-making on the matter. In all business transactions with potential involvement of board members or staff competitive bids are solicited and any board or staff members who have a potential conflict of interest are excluded from the selection process. Any contract or sale of property to board members or staff or to relatives/friends of either must be issued on merit and pricing of the contract without preferential treatment. All things being equal, a bidder without a potential conflict of interest will be given preference.”

“The organization has an established pay scale for salary and hourly employees which covers all positions in the organization. It is a graduated scale, listing minimum and maximum pay per grade, based on position and experience and is updated periodically to keep pace with inflation, minimum wage changes, and compensation by comparable organizations. Compensation surveys prepared by several human services and non-profit associations and the nc state job classification for clerical and support positions were used to develop the pay scale. Current compensation surveys prepared for comparable organizations in the region are used to determine appropriate adjustments to the pay scale and employee compensation. Suggested pay adjustments are recommended during the budget process and approved by the board of directors.”

“Governing documents of the organization are posted on the nc secretary of state website and copies are made available to interested citizens upon request. Public announcement to the local newspaper is made following completion of the annual audit and a copy of the audited financial statements is made available in the finance office. The home's management personnel meet periodically with a community communications commitee to address current programs and operations or community concerns involving policies and procedures or financial issues. The conflict of interest statement is provided to agencies and individuals upon request.”