Fontana Regional Library Inc

“Direction and oversight of the organization shall be vested in the board of trustees appointed by the counties of Jackson, Macon, and Swain.”

“The form 990 was prepared by an independent accounting firm with assistance by the financial director. Following a preliminary review by the finance officer and regional director, the return was provided to all board members prior to being filed with the IRS.”

“The policies are reveiwed annually by the Board and all employees.”

“An independent human resources contractor was hired to develop a compensation plan for all employees, including the director and key employees. The plan was based on other like organizations and local pay rates. The plan was meant to include an increase in step and a cost of living adjustment raise each year. However, due to the current economic condition, employees, including the director and key emplyees, have not received increases in step levels, nor raises equal to cost of living adjustments.”

“The organization hired an independent human resources contractor to develop a compensation plan for all employees, including the director and key employees. The plan was based on other similar organiztions and local pay rates. Pay raises are given to all employees based on standard cost of living adjustment rates, dependent upon anticipated funding levels for the upcoming year. The State library annually produces a list of compensation for library directors throughout the State. The entire board approved the compensation plan. Trustees of the board of directors are non-compensated volunteers.”

“Copies of the organizations Form 1023 and recent filings of the Form 990 and 990-T are available upon request a the organizations administrative office, which is open to the publicv during normal business hours. In addition, the public may request access at any local library and copies will be made available. Recent filings of the Form 990 are available online at the organiztins website, as well at www.guidestar.org”

“Fontana Regional Library is a public library, therefore the primary governing documents are State and General Statutes which are available through the State of North Carolina. The State library of North Carolina and the Local Government Commission receive coopies of the financial statements annually. Any additional policies are available upon request at the organizations administrative office, which is open to the public during normal business hours. In addition, the public may request access at any local library and copies will be made available.”

“The implementation of GASB Statement 68 required a restatement of beginning fund balance to properly record the allocation of the government units share of North Carolinas Local Government Employees Retirement System activity.”