Aurum Preparatory Academy Inc.

“The organization does not have a committee with authority to act on the board's behalf.”

“The form 990 is prepared by the organization'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.”

“The officers, directors, and trustees all have a duty to disclose any actual or possible conflict of interest. The board reviews any conflicts presented by interested parties. The chairperson appoints a disinterested person or committee to investigate the transaction in question and report findings to the board. Alternatives to the proposed transaction are identified and compared to the proposed transaction. The board votes on the most beneficial option for the organization. If the board has reason to believe an interested person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action.”

“The executive officer'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 officer's compensation as a direct action.”

“Public documents available upon request.”

“Teacher certification program: program service expenses 16,347. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,347. Bes follow on support: program service expenses 10,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,000. Pe outsource consulting: program service expenses 31,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,800. Consulting - educational: program service expenses 5,589. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,589. Substitute teachers: program service expenses 2,892. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,892. After school program: program service expenses 163,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 163,800. Education service contractors: program service expenses 6,969. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,969. Sped consulting: program service expenses 43,392. Management and general expenses 0. Fundraising expenses 0. Total expenses 43,392. Mental health counseling: program service expenses 27,975. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,975. Financial consulting: program service expenses 0. Management and general expenses 55,721. Fundraising expenses 0. Total expenses 55,721. Facilities consulting: program service expenses 0. Management and general expenses 5,512. Fundraising expenses 0. Total expenses 5,512.”

“The process has not changed since prior year.”