Board of Control for Southern Regional Education

“The governing board of the southern regional education board is made up of 79 independent members. To expedite decision-making, the board has assigned authority to an executive committee composed of 18-20 members, all of whom are governing board members, to act fully on its behalf during the fiscal year. The full board does, however, meeting annually and is responsible for compliance with all sreb policies.”

“The board of control for southern regional education was created in 1948 as an interstate compact comprised of member states. Currently there are sixteen states whose governors serve as members of the governing board. Each governor appoints four additional members of the governing board. All board members have equal voting rights.”

“Governors of each member state appoint four members of the governing board. The governors and their appointees have equal voting rights.”

“The cfo reviews the form 990-- any issues are discussed and resolved with appropriate personnel. Once all issues are resolved, a copy of the 990 is provided to the executive committee who are empowered to act on behalf of the entire board. The executive committee may direct any questions/issues to the president/cfo for resolution. Once the executive committee approves the 990, a copy of the final tax form is sent to all board members before it is filed.”

“Officers, directors and key employees are provided copies of the conflict of interest policy and a disclosure questionnaire which they complete and sign, indicating that they have read and understand the policy and that their answers are complete and accurate. Questionnaires are completed and submitted annually; however, sreb requires disclosure of potential conflicts of interest on a continuous basis. The board/executive committee decides if a conflict of interest exists and, if so, appoints a disinterested person/committee to investigate alternatives. The board determines appropriate disciplinary/corrective action for any violations of the policy. A whistleblower policy provides a mechanism for reporting of any suspected violations.”

“The board of directors determines the compensation of the president. The executive committee, acting on behalf of the board, reviews compensation benchmarking analyses (including government, education testing, competitive nonprofits and other like organizations) for similar positions and makes recommendations as appropriate, ensuring they are well justified, reasonable and documented. The president has not received a pay raise since 2005. Compensation for executive staff/key employees is determined by the executive committee based on an annual performance review and recommendations by the president, including attainment of performance goals and expectations. Last date of pay raises are: senior vp (2008); vp for special projects (2008); vp for educational policies (2007); assistant treasurer (2008); executive director-council for collegiate nursing (2008). In the following cases, pay increases were the result of increased job responsibilities or promotion: cfo (2012); vp for state services (2012); director of human resources (2012).”

“Documents are available on an as requested basis.”

“Contracted services: program service expenses 7,601,639. Management and general expenses 231,609. Fundraising expenses 0. Total expenses 7,833,248.”