Tracy Learning Center-Discovery Charter School

“The board may appoint an executive committee and one or more other committees each consisting of two (2) or more directors to serve at the pleasure of the board, and delegate to such committee any of the authority of the board, except with respect to: a. The filling of vacancies on the board or on any committee which has the authority of the board; b. The fixing of compensation of the directors for serving on the board or on any committee; c. The amendment or repeal of bylaws or the adoption of new bylaws; d. The amendment or repeal of any resolution of the board which by its express terms is not so amendable or repealable; e. The appointment of other committees having the authority of the board; f. The expenditure of corporate funds to support a nominee for director after there are more people nominated for director than can be elected; or g. The approval of any self-dealing transaction as such transactions are defined in section 5233(a) of the california nonprofit public benefit corporation law, except as permitted under section 23 of this article. Any such committee must be created, and the members thereof appointed, by resolution adopted by a majority of the number of directors then in office, and any such committee may be designated as an executive committee or by such other name as the board shall specify. The board may appoint, in the same manner, alternate members to a committee who may replace any absent member at any meeting of the committee. The board shall have the power to prescribe the manner in which proceedings of any such committee shall be conducted. In the absence of any such prescription, such committee shall have the power to prescribe the manner in which its proceedings shall be conducted. Unless the board, such committee, or these bylaws shall otherwise provide, the regular and special meetings and other actions of any such committee shall be governed by the provisions of this article iv applicable to meetings and actions of the board. Minutes shall be kept of each meeting of each committee.”

“There are no committees that have authority to act on behalf of the board.”

“The form 990 is prepared by the center's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

“The executive director's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the executive director's compensation as a direct action. The officers and key employees' pay is determine based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the officers and key employees' compensation as a direct action.”

“The center provides its governing documents, conflict of interest policy and financial statements to the public upon request.”

“The center has not changed the oversight or selection process during the tax year.”