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 the decision-making process, the board has assigned authority to an executive committee composed of 18-20 members (depending on the reporting year), all of whom are governing board members, to act fully on the board's behalf. The full board does, however, meet 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 and any issues are discussed and resolved with appropriate personnel. Once all issues are resolved, a copy of the form 990 is provided to the executive committee which is empowered to act on behalf of the entire board. The executive committee may direct any comments or questions to the president or cfo for resolution. Once the executive committee approves the form 990, a copy of the final draft of the form is provided to all board members before it is filed with the irs and state agencies.”

“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 executive committee decides if a conflict of interest exists and, if so, appoints a disinterested person or a committee to investigate alternatives. The board determines appropriate disciplinary and corrective actions for all violations of the policy. A whistleblower policy has also been established and it provides a mechanism for reporting any suspected violations.”

“The board of directors determines the compensation of the president. The executive committee, acting on behalf of the board, reviews compensation analyses that include comparable compensation in government, education, non-profit organizations and other similar organizations and makes compensation recommendations. Compensation for executive staff and 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.”

“Board of control for southern regional education also makes its forms 990 available on the same day, if requested in person, or within 30 days if requested via mail, e-mail, facsimile or private delivery. Availability of other documents such as our governing documents, conflicts of interest policy, and our financial statements follow the same disclosure policy and the same turnaround times. All these documents are provided by the organization to all requesters free of charge and without any explanations of the reasons for the request.”

“The finance committee of the board of directors is responsible for the selection of the organization's independent auditors. The committee maintains communication with the independent auditors, as necessary, during the audit process and is responsible for reviewing and approving audited financial statements. There were no changes to the organization's auditors nor the oversight process in the reporting year.”