Washington County Economic Development Inc

“The executive director meets with the auditors and has a draft 990 prepared for review by the the executive committee. After their review and approval the final 990 is prepared.”

“The conflict of interest policy is enforced annually when each director, principal officer and member of a committee with governing board delegated powers signs a statement which affirms that such person(s): 1. Has received a copy of the conflict of interest policy 2. Has read and understands the policy 3. Has agreed to comply with the policy, and 4. Understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: 1. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. 2. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organizations' written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. When conducting the periodic reviews as provided, the organization may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the governing board of its responsibility for ensuring periodic reviews are conducted.”

“The conflict of interest policy is enforced whenever a proposted transaction or engagment is considered where there may be a conflict of interest. At that time the interested person must disclose the existence of the interest to the rest of the board.”

“All documents subject to public inspection are available in print at 375 southpointe boulevard, suite 240 cannonsburg, pa.”

“The executive committee and executive director have responsiblity for oversight of the audit. They meet with the auditor and review the reports and letters to those charged with governance as part of the annual audit report submissions.”