Twin Cities German Immersion School

“The School's members include all staff, families of children enrolled at the school and interested community members.”

“The Form 990 is prepared by their accountant and is reviewed by the Director. The public disclosure version of the Form 990 is then presented to the Board of Directors for review and approval prior to filing.”

“Board Members annually complete a Conflict of Interest statement which is reviewed and updated as necessary. If a business transaction occurs that could violate the conflict of interest policy, then a review must be made by the Director and Board of Directors with direct reference to the Conflict of Interest Policy. Individuals found to have a conflict of interest will not be permitted to vote on the transaction. Proceedings related to conflicts of interest are documented in the meetings minutes.”

“The compensation of the School Director is computed with research of comparable salaries through MACS Charter Schools by the Board of Directors and documented in a letter of officer. This process was last undertaken in 2012 for the School Director, A. Jurewicz.”

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

“The School implemented two new accounting standards (GASB 68 and 71) for the year ended June 30, 2015 which required recognition of the schools proportionate share of the unfunded pension liability. As a charter school in the state of Minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The schools contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the Net Pension Liability is reported on the schools Statement of Net Position, the school is not in a position to directly control the liability or the subsequent liquidation of the liability.”

“Per MN Statute 124D.10, Charter Schools are required to have licensed teachers as members of the Board of Directors. Hunter Goetzman & Michelle Wallace are Board Members, but received compensation for their services as Teachers. Natalie Yaeger is a Board Member, but received compensation for her services as a Substitute Teacher prior to accepting the role as Board Member.”