Seven Arrows Elementary School

“The form 990 is prepared by the school's outside public accounting firm based on information provided by management. The return is reviewed by management and any changes incorporated into the form 990, excluding schedule b, is provided to the finance committee for approval before filing.”

“A self-dealing situation or conflict may arise if the school is a party to any arrangement in which one or more of the trustees, administrators or other employees of the school, or any entity or person related to any of such persons ("related party"), individually has a material financial interest. All conflict of interest is determinded by the board. Any such transaction is prohibited, unless specifically approved in advance by the board or the executive committee. Each person must report any conflict of interest in which such person is or may be involved to the president, if a trustee, or the head, in case of employees, who will determine how the conflict will be resolved. On an annual basis, the head of school will provide the executive committee with a summary list of the gifts received by each school employee which exceed $100. Any trustee, administrator, employee or other representative who discovers any breach of this policy must immediately advise the president (for trustees) and the head of school (for employees) of all pertinent details. A trustee with a conflict of interest is prohibited from voting on the manner.”

“The head of school's compensation is reviewed and authorized annually by the compensation committee of the board of trustees, which includes comparison to peer schools and other relevant performance factors. The head of school has a written contract. Key employees compensation is determined annually by the head of school and reviewed by the compensation committee of the board of trustees. This review considers comparison to peer schools and other relevant performance factors.”

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

“The executive committee of the board of directors of the corporation shall also be known as the steering committee. The steering committee shall consist of between 7-10 members, with 10 being the maximum, until changed by amendment to these bylaws. The exact number of members of the steering committee shall be fixed, within those limits, by a resolution adopted by the steering committee fixing such number directly, or by electing members to the steering committee. Members of the steering committee shall be elected annually by the steering committee on the anniversary date of the incorporation of the corporation or such other date as shall be set by the steering committee. Each member, including a member designated to fill a vacancy, shall hold office until the expiration of the term for which appointed and thereafter until a successor has been appointed and qualified. Subject to the provisions and limitations of the california nonprofit public benefit corporation law and any other applicable laws, and subject to any limitations in the articles of incorporation and these bylaws, the corporation's activities and affairs shall be managed, and all corporate powers shall be exercised, by or under the direction of the steering committee. The steering committee shall have the power to: . Appoint and remove all trustees, officers, agents, and employees of the corporation; prescribe any powers and duties for them that are consistent with law, with the articles of incorporation, and with these bylaws; and fix their compensation. . Change the principal office in california from one location to another; cause the corporation to be qualified to conduct its activities in any other state, territory, or country, and conduct its activities within or outside the state of california; and designate any place within or outside the state of california for the holding of any meetings. . Adopt, make use, and alter the form of a corporate seal. . Borrow money and incur indebtedness on behalf of the corporation and cause to be executed and delivered for the corporation's purpose, in the corporate name, promissory notes, bonds, debentures, deeds of trust, mortgages, pledges and other evidences of debt and securities. . Establish, from time to time, in their sole discretion, an endowment to further the purposes of the corporation.”

“The finance committee has responsibility for oversight of the financial statements reviews. The finance committee is also responsible for the selection of an independent accountant.”