Phoenix Academy

“Any staff members who are employed at the school, including licensed teachers providing instruction under a cooperative, and all parents/guardians of children enrolled in the school may vote in the election of the board of directors.”

“Prior to filing the form 990, the executive director and finance committee will conduct a detailed review of the 990. The full board will receive a public disclosure copy of the 990.”

“The school board will ask at the beginning of each board meeting if any members have a conflict of interest with any of the agenda items of the meeting.”

“The starting compensation of the executive director was/is determined based upon a comparison of salary and benefits offered for similar positions at charter schools in the region. Other considerations in making the initial determination are education, experience, and skills of the executive director. For annual salary adjustments, the percentage of increase is in alignment with other staff increases as determined in the annual budget process and the amount of mde general aid. All salary adjustments for the executive director are reviewed and approved by the executive committee of the board.”

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

“Per mn statute 124e.07, charter schools are required to have licensed teachers as members of the board of directors. Mary stamm and liana emery are board members but received compensation for services as teachers.”

“Misc. Contracted services: program service expenses 152,091. Management and general expenses 45,223. Fundraising expenses 0. Total expenses 197,314. Food services: program service expenses 93,427. Management and general expenses 0. Fundraising expenses 0. Total expenses 93,427. Transportation : program service expenses 3,116. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,116.”

“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the net pension liability, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”

“Gasb 68 - pension adjustment -166,195.”