River Charter Schools

“The board has not granted authority to any committee to act on behalf of the governing body.”

“A copy of the 990 was be provided to the board of directors prior to filing.”

“All employees and board members are required to disclose any conflicts of interest annually by completing the form 700. The board will review all conflicts. If any are presented, the employee/board member will be prohibited to participate in the boards deliberations and decisions in the transaction(s).”

“Board members did salary comparative analysis as well as conducting various discussions. All management salaries are board approved. The board has recently established a new policy as follows: executive compensation review policy: this policy on the process for reviewing the compensation structure of the river charter schools ("rcs") executives/administrators and other "key decision-making employees" applies to the compensation of the following persons employed by rcs: superintendent, chief business officer, principal and any other top level positions as determined by the board of directors or compensation committee. The compensation review process includes the following elements: (1) review and approval by the board of directors, or a compensation committee; (2) use of data as to comparable compensation; and (3) use of contemporaneous documentation and recordkeeping. Review and approval: the compensation of the person is reviewed and approved by the board of directors, or a compensation committee established by the board of directors, provided that persons with financial conflicts of interest with respect to the compensation arrangement at issue are not involved in this review and approval. This review of compensation shall include benefits. The review shall be conducted upon: -the hiring of the person; -the renewal or extension of the term of employment; and -whenever the compensation is modified, unless the modification extends to substantially all employees. Use of data as to comparable compensation: the compensation of the person is reviewed and approved using data as to comparable compensation for similarly qualified, persons in functionally comparable positions at similarly situated organizations. Contemporaneous documentation and recordkeeping: there is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement. The initial salary amounts for our management personnel were determined with the assistance of our former independent administrative services provider, who assisted us in analyzing competitive area salaries. All management salaries are board approved.”

“The organization made its governing documents, conflict of interest statement, and financial statements available to the public upon request.”

“Special ed encroachment: program service expenses 73,449. Management and general expenses 32,524. Fundraising expenses 0. Total expenses 105,973. Fees for other services: program service expenses 377,554. Management and general expenses 167,183. Fundraising expenses 0. Total expenses 544,737.”

“The process for oversight of the consolidated financial statement audit and the process for selection of an independent accountant has not changed from the prior year.”