The Central High School Foundation

“A complete copy of the form 990 is reviewed by the executive director, the president, and the treasurer. A public disclosures copy of the form 990 is reviewed by the full board of directors. Any questions are brought to the attention of the preparer, and items are resolved prior to filing.”

“Any direcotr, principal officer, or member of a committee with governing board delegated powers must disclose the existence of any conflict of interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the conflicting interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or comittee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists.”

“All increases in compensation for the executive director are discussed and approved/authorized by the board of directors.”

“The organization makes its governing documents and financial statements available to the public upon request. All documents are kept at the foundation's office and are readily accessible by the executive director.”

“The central high school foundation was established in 1996 to provide support for present and future central high school students to ensure the tradition of excellence continues. Contributions of time, energy, and resources are essential to preserve and enhance the timeless values.”

“During the year ended june 30, 2021, management discovered that board- designated endowment funds were incorrectly accounted for as donor- restricted endowment funds. The june 30, 2020 balance sheet has been restated to reflect. As of june 30, 2020, net assets without donor restrictions were adjusted from (641,761) to 2,471,176 and net assets with donor restrictions were adjusted from 3,728,202 to 615,265.”

“The board of directors and executive director assume responsibility for the oversight of the annual engagement with the independent accountant. There were no changes from procedures followed in prior years.”