Vaughn Next Century Learning Center

“The board, by resolution adopted by a majority of the directors then in office, may create one or more committees of the board, each consisting of two or more directors and no one who is not a director, to serve at the pleasure of the board. Appointments to committees of the board of directors shall be by majority vote of the authorized number of directors. The board of directors may appoint one or more directors as alternate members of any such committee, who may replace any absent member at any meeting. Any such committee shall have the authority of the board.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“In connection with any actual or possible conflict of interest, any interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. An interested person is a board member that actions affect their personal financial interests or the interests of their immediate family members. Financial interest can include: a business in which they or family members have an investment, real property in which they or family members have an interest, any source of income or loans to them or family members, and any person with whom they have an agreement concerning future employment. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board of directors meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members shall decide if a conflict of interest exists. If a conflict of interest exists, they must be "disqualified" meaning that they must abstain from making, participating in making or attempting to use thier position in any way to influence the board decision that might affect that personal interest. Monitoring is done regularly by the officers to identify potential conflicts of interest as issues arise.”

“The executive director's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the executive director's compensation as a direct action. The officers and key employees' pay is determine based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the officers and key employees' compensation as a direct action. This process was last completed in 2022.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

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