Valley Economic Development Center Inc

“Form 990 is prepared by an outside cpa using information provided by management. The form 990 is then reviewed by the company's cfo who submits any changes to the cpa. The updated form 990 is then reviewed and approved by management and the audit committee. Upon approval of the audit committee, the form 990 is executed by management and filed. The audit committee reports the result of their review and approval with the entire board at the next regularly scheduled meeting.”

“Valley economic development center, inc. Regularly and consistently monitors and enforces its conflict of interest policy using the following procedure: board members and employees complete a conflict of interest disclosure form when they join the organization. The chair of the board follows up on potential board conflicts and the human resources department follows up on employee conflicts. Employees and board members are requested to notify vedc if any changes occur that require disclosure of a conflict of interest.”

“The board of directors independently sets the ceo/president's compensation by using comparability data consisting of salary surveys and internet searches. Their deliberations and decisions are documented in the minutes of their meetings. The ceo/president independently sets the compensation of the remaining officers and key employees by using comparability data consisting of salary surveys and internet searches. These deliberations and decisions are documented in the employee files of the respective employees.”

“Governing documents, conflict of interest policies, and financial statements are available to executive staff and the board of directors. Upon request from the general public, the organization will provide access to these documents as required by law.”

“The process of overseeing the audit and selecting an independent accountant has not changed from the prior year.”