Cologne Stars Building Company

“The sole member of cologne stars building company is cologne academy.”

“Cologne academy, as the sole member, has all powers available to remove or appoint directors of the building company.”

“Amendments to the organization's governing documents are subject to approval by the sole member, cologne academy.”

“The organization does not have a committee with the authority to act on behalf of the governing body.”

“A completed form 990 is provided to every board member electronically for review prior to filing. If changes are required they are made prior to the vote to approve for filing of the form 990.”

“Annual conflict-of-interest questionnaires are sent to each board member whereby they must affirmatively identify any conflict or declare that no conflict exists. If a board member has a potential conflict, they must fully disclose to the board of directors the interest or relationship. The board of directors less the interested member, in collaboration with the commissioner of education, as necessary, will review the disclosure and determine if a conflict of interest exists. If a conflict exists, the interested member may not participate in the discussion nor vote on the transaction. Proceedings related to conflicts of interest are documented in the meeting minutes.”

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

“Cologne stars building company follows a modified accrual method of accounting as prescribed by the minnesota department of education. The financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”