TY 2014 Form 990 Schedule O

efile Public Visual Render ObjectId: 201621249349300547 - Submission: 2016-05-03 TIN: 23-3086998

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

21ST CENTURY CYBER CHARTER SCHOOL

Employer identification number

23-3086998

Return Reference	Explanation
FORM 990, PART VI, SECTION B, LINE 11	THE BOARD OF DIRECTORS REVIEW ALL FINANCIAL STATEMENTS AND TAX RETURNS PRIOR TO SUBMISSION.
FORM 990, PART VI, SECTION B, LINE 12C	BOARD OF DIRECTORS MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ANNUALLY.
FORM 990, PART VI, SECTION B, LINE 15	SALARIES FOR TOP MANAGEMENT POSITIONS HAVE BEEN CALCULATED BASED ON A BENCHMARK ANALYSIS OF SALARIES THAT ARE PAID FOR SIMILAR POSITIONS IN THE SURROUNDING SCHOOL DISTRICTS, SCHOOL DISTRICTS WITH A SIMILAR ENROLLMENT POPULATION/SIZE AND SALARIES FROM OTHER CHARTER, CYBER/CHARTER SCHOOLS. THE SALARIES ARE PUT FORWARD TO THE BOARD FOR APPROVAL. THE CEO'S POSITION IS A SEPARATE CONTRACT AND SALARY IS DIRECTOR NEGOTIATED WITH THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION C, LINE 18	DOCUMENTS ARE AVAILABLE UNPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19	21ST CENTURY CYBER CHARTER SCHOOL COMPLIES WITH THE PUBLIC RIGHT TO KNOW LAW AND RESPONDS TO ALL WRITTEN REQUESTS TO THE OPEN RECORDS OFFICER AS PURSUANT TO SECTION 504 OF THE RIGHT-TO-KNOW LAW, 65 P.S. 67.101 ET SEQ.
FORM 990, PART XI, LINE 8	EFFECTIVE JULY 1, 2014, THE CHARTER SCHOOL ADOPTED GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENTS NO. 68, ACCOUNTING AND FINANCIAL REPORTING FOR PENSIONS AND NO. 71, PENSION TRANSITION FOR CONTRIBUTIONS MADE SUBSEQUENT TO THE MEASUREMENT DATE, TO BE IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. STATEMENT NO. 68 ESTABLISHES STANDARDS FOR MEASURING AND RECOGNIZING LIABILITIES, DEFERRED OUTFLOWS OF RESOURCES, DEFERRED INFLOWS OF RESOURCES, AND EXPENDITURES IN ORDER TO IMPROVE ACCOUNTING AND FINANCIAL REPORTING BY GOVERNMENTS FOR PENSIONS. THE STATEMENT ALSO ENHANCES NOTE DISCLOSURE AND REQUIRED SUPPLEMENTARY INFORMATION FOR GOVERNMENT PENSION PLANS. STATEMENT NO. 71 ESTABLISHES STANDARDS FOR RECORDING AND REPORTING CONTRIBUTIONS MADE TO A DEFINED BENEFIT PLAN AFTER THE MEASUREMENT DATE OF THE GOVERNMENT'S BEGINNING NET PENSION LIABILITY. THE ADOPTION OF THESE STANDARDS RESULTED IN THE CHARTER SCHOOL RESTATING BEGINNING NET POSITION AS OF JULY 1, 2014 IN GOVERNMENTAL ACTIVITIES FOR $10,791,429 TO ACCOUNT FOR THE NET PENSION LIABILITY AS OF JUNE 30, 2014 (MEASUREMENT DATE OF JUNE 30, 2013) AND DEFERRED OUTFLOWS FOR PENSION CONTRIBUTIONS MADE SUBSEQUENT TO THE MEASUREMENT DATE. GOVERNMENTAL ACTIVITIES NET POSITION DECREASED FROM $5,850,695 TO ($4,940,734).

Return Reference

Explanation

FORM 990, PART VI, SECTION B, LINE 11

THE BOARD OF DIRECTORS REVIEW ALL FINANCIAL STATEMENTS AND TAX RETURNS PRIOR TO SUBMISSION.

FORM 990, PART VI, SECTION B, LINE 12C

BOARD OF DIRECTORS MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ANNUALLY.

FORM 990, PART VI, SECTION B, LINE 15

SALARIES FOR TOP MANAGEMENT POSITIONS HAVE BEEN CALCULATED BASED ON A BENCHMARK ANALYSIS OF SALARIES THAT ARE PAID FOR SIMILAR POSITIONS IN THE SURROUNDING SCHOOL DISTRICTS, SCHOOL DISTRICTS WITH A SIMILAR ENROLLMENT POPULATION/SIZE AND SALARIES FROM OTHER CHARTER, CYBER/CHARTER SCHOOLS. THE SALARIES ARE PUT FORWARD TO THE BOARD FOR APPROVAL. THE CEO'S POSITION IS A SEPARATE CONTRACT AND SALARY IS DIRECTOR NEGOTIATED WITH THE BOARD OF TRUSTEES.

FORM 990, PART VI, SECTION C, LINE 18

DOCUMENTS ARE AVAILABLE UNPON REQUEST.

FORM 990, PART VI, SECTION C, LINE 19

21ST CENTURY CYBER CHARTER SCHOOL COMPLIES WITH THE PUBLIC RIGHT TO KNOW LAW AND RESPONDS TO ALL WRITTEN REQUESTS TO THE OPEN RECORDS OFFICER AS PURSUANT TO SECTION 504 OF THE RIGHT-TO-KNOW LAW, 65 P.S. 67.101 ET SEQ.

FORM 990, PART XI, LINE 8

EFFECTIVE JULY 1, 2014, THE CHARTER SCHOOL ADOPTED GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENTS NO. 68, ACCOUNTING AND FINANCIAL REPORTING FOR PENSIONS AND NO. 71, PENSION TRANSITION FOR CONTRIBUTIONS MADE SUBSEQUENT TO THE MEASUREMENT DATE, TO BE IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. STATEMENT NO. 68 ESTABLISHES STANDARDS FOR MEASURING AND RECOGNIZING LIABILITIES, DEFERRED OUTFLOWS OF RESOURCES, DEFERRED INFLOWS OF RESOURCES, AND EXPENDITURES IN ORDER TO IMPROVE ACCOUNTING AND FINANCIAL REPORTING BY GOVERNMENTS FOR PENSIONS. THE STATEMENT ALSO ENHANCES NOTE DISCLOSURE AND REQUIRED SUPPLEMENTARY INFORMATION FOR GOVERNMENT PENSION PLANS. STATEMENT NO. 71 ESTABLISHES STANDARDS FOR RECORDING AND REPORTING CONTRIBUTIONS MADE TO A DEFINED BENEFIT PLAN AFTER THE MEASUREMENT DATE OF THE GOVERNMENT'S BEGINNING NET PENSION LIABILITY. THE ADOPTION OF THESE STANDARDS RESULTED IN THE CHARTER SCHOOL RESTATING BEGINNING NET POSITION AS OF JULY 1, 2014 IN GOVERNMENTAL ACTIVITIES FOR $10,791,429 TO ACCOUNT FOR THE NET PENSION LIABILITY AS OF JUNE 30, 2014 (MEASUREMENT DATE OF JUNE 30, 2013) AND DEFERRED OUTFLOWS FOR PENSION CONTRIBUTIONS MADE SUBSEQUENT TO THE MEASUREMENT DATE. GOVERNMENTAL ACTIVITIES NET POSITION DECREASED FROM $5,850,695 TO ($4,940,734).

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

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