District XI Human Resource Council Inc.

“Executive director and fiscal officer review 990. Final draft was presented to the board prior to filing.”

“Conflict of interest policy applies to both employees and officers of the organization. Officers declare conflicts as they occur and abstain from participating in deliberations and decisions in which they may be viewed as conflicted. The organization, through the administration of federal programs, is also monitored by outside entities for any evidence of self dealing.”

“Board of directors reviews and approves compensation package for executive director.”

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

“Current year 990 is posted on the organization's website; form 1023 are available upon request.”

“In accordance with gasb 68, accounting and financial reporting for pensions, employers and the non-employer contributing entity are required to recognize and report certain amounts associated with participation in the public employees' retirement system defined benefit retirement plan. Employers are required to record and report their proportionate share of the collective net pension liability; pension expense; and deferred outflows and deferred inflows of resources associated with pensions. The net pension liability is unlike any of the other liabilities reported on an employer's financial statements, in that it is not immediately due and cannot be paid off under any accelerated schedule. Contribution rates are set in statute; an employer would only remit their statutory contribution amount. An employer would not be able to remit payment for the employer's allocated share of the net pension liability in order to remove this liability from their financial statements. Only the montana legislature has the power to change the contribution rate through the statutes that govern the retirement system. Although the employer allocated share of the collective net pension liability is shown on the face of each employer's financial statements, contribution requirements to the retirment systems are not impacted by this change.”

“Increase to equity for parkside loan expensed 1,018,257. Gasb 68 pension adjustment -102,207.”