Valley Christian School System

“Valley Christian School System (VCSS) has an Executive Committee that is authorized to act on behalf of the board when action or time-sensitive information must be considered and it is expected that a quorum of the board cannot be called together, such as when the school is not in session or in case of emergency. The Executive Committee is made up of the President, Vice-President, Secretary, Treasurer, Vicar, and Superintendent.”

“The School has Society Members made up of parents and constituents of the school community (alumni, grandparents, etc.).”

“The Society Members vote annually to approve the board members. They vote for four new board members each year.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by VCSS's top management. The reviewed Form 990 is then forwarded to the board of directors for review and approval prior to filing.”

“A Conflict of Interest questionnaire is distributed annually to board members, principals, directors, officers, and managers. The signed questionnaires are then reviewed by the Director of Business Operations. Should any potential conflicts of interest be disclosed, the interested party would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“VCSS's Board of Directors, in accordance with its board policy, reviews the performance of the Superintendent annually. This review is conducted by the Executive Committee. The compensation for the Superintendent is based primarily on the published scale from Christian Schools International. This scale takes into consideration school size, educational experience, level of education, and geographical location. The board may also, at its discretion, award additional compensation as it deems necessary to attract and retain an individual in the position of Superintendent. The compensation is defined in a contract that has been created and approved by the Executive Committee of the VCSS Board of Directors. The contract is signed by the Superintendent, the Board Secretary, and the Board President. The Superintendent's contract is discussed at the executive board meetings and documented in the minutes. The Superintendent reviews the performance of the Director of Business Operations annually. The Director of Business Operation's compensation is determined based on education, experience, and geographical location. The compensation is defined in a contract that is signed by the Superintendent and the Director of Business Operations.”

“Governing Documents and the Conflict of Interest Policy are available to the public upon request. The financial statements are provided annually to the Society members and current parents of Valley Christian School System's students.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 06/30/2019. The 2018 Form 990 and its associated schedules were not updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $9,401,328 Line 29 - Net assets with donor restrictions 229,994 --------- Total net assets $9,631,322”

“The audit committee consists of individuals knowledgeable in financial reporting, internal controls, and audit functions. The majority of the committee members must be independent members without any conflicts of interest. As such, the committee members assume responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year.”