Region 12 Revolving Loan Fund Corp

“The governing board (shared with nwccog) delegates certain decision-making authority for the loan fund to a loan committee, which operates under formal policies approved by the board.”

“The nwccog has members in the form of "member jurisdictions" which are the counties and municipal corporations within the northwestern colorado region.”

“The bylaws of the nwccog state that "member jurisdictions" shall be entitled to voting representatives as set forth in the articles. The voting representative shall be a member of the elected governing body of the member jurisdiction appointed by vote of such governing body to be the nwccog representative. The governing body of the member jurisdiction may also appoint an alternate who shall meet the same qualifications as the representative. In the event of the absence of the elected representative or alternate for any jurisdiction, an administrative representative may participate as a representative of that jurisdiction at the pleasure of the council, however, that administrative representative shall not be permitted to cast a vote on any issue. There are no governance decisions of the nwccog that are reserved for or subject to approval by the member jurisdictions. All votes are cast by the appointed voting representatives.”

“The form 990 is reviewed by the northwest loan fund director and nwccog executive leadership prior to filing, but it is not routinely distributed to the entire governing board.”

“Nwccog has a conflict of interest policy that covers all employees, but does not cover board members. Per the employee conflict of interest policy: no employee shall engage in any activity or enterprise that is incompatible with the duties and responsibilities of nwccog employment (exceptions may only be granted by the nwccog executive committee). Activities that constitute a conflict of interest with the interests of nwccog employment may subject the conflicted party to discipline up to and including termination of employment.”

“The executive director and the program directors' compensation packages are reviewed annually by the officers of the board. All other employees' compensation is reviewed by the executive director. Additionally, salary survey and wage range analysis is completed for all positions within the organization every 3 years. Wage range adjustments are reviewed and approved by the board. The process described here was last completed in 2024.”

“The governing documents and conflict of interest statement are available upon request. The financial information for the loan fund is included in the consolidated financial statements of the northwest colorado council of governments that are made available to the public.”

“Payroll expenses for the program director are paid by the northwest colorado council of governments and reimbursed by the loan fund.”

“The process and oversight for selection of an independent accountant has not changed since the prior year.”