Great Oaks 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.”

“The school does not have any committees that have authority to act on behalf of the governing body.”

“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's conflict of interest policy covers officers and board members and requires each covered individual to notify the board of directors about any actual or potential conflicts of interest upon acknowledgment that a conflict may exist. The conflicted individual is expected to report all material facts to the board, who shall determine whether a conflict exists without the conflicted individual. At the start of every board meeting, directors are asked if they have a conflict with any of the items on the agenda. The conflicted individual may not vote or participate in the determination process. All conflicts and proceedings are documented in the meeting minutes.”

“The board of directors used comparability data to select a starting compensation range for the executive director. In subsequent years, modifications to the initial pay-scale are based on comparative school information and cost of living increases.”

“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. Madeline carpenter and rob carpentier are board members but received compensation for services as teachers.”

“Transportation services: program service expenses 504,210. Management and general expenses 0. Fundraising expenses 0. Total expenses 504,210. Misc contracted services: program service expenses 397,344. Management and general expenses 19,517. Fundraising expenses 0. Total expenses 416,861. Food services: program service expenses 239,350. Management and general expenses 0. Fundraising expenses 0. Total expenses 239,350.”

“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 pensions expense, net -816,615.”