2025-11-15T19:30:28-06:00 2025-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2024-07-01 221489901 FAR HILLS COUNTRY DAY SCHOOL FARH 9087660622 ROUTE 202 PO BOX 8 FAR HILLS NJ 07931 LORI FITZGIBBON CFO 9087660622 2025-11-15 1 1 MELISSA MODELSON P01603524 9143818900 2025-11-14 2024 2025-03-06 01:10:19Z GEORGIA ZAISER ROUTE 202 PO BOX 8 FAR HILLS NJ 07931 11409183 0 X WWW.FHCDS.ORG X 1929 NJ FAR HILLS COUNTRY DAY SCHOOL PROVIDED AN EDUCATION TO 215 STUDENTS IN GRADES PREK - GRADE 8 DURING THE TAX YEAR WITH THE MISSION OF THE SCHOOL AND THE PILLARS AS THE GUIDING PRINCIPLES. THROUGH ACADEMIC EXCELLENCE AND CHARACTER DEVELOPMENT, FAR HILLS COUNTRY DAY SCHOOL PROVIDES EACH CHILD BRILLIANT BEGINNINGS FOR SUCCESS IN THE MODERN WORLD. FAR HILLS COUNTRY DAY SCHOOL PROVIDES A CURRICULUM THAT SUPPORTS ACADEMIC EXCELLENCE AS WELL AS EMOTIONAL INTELLIGENCE. FAR HILLS ALSO PROVIDES A CHARACTER-BASED EDUCATION THROUGH THE PILLARS OF CHARACTER: RESPECT, RESPONSIBILITY, LEADERSHIP, KINDNESS, HONESTY. THE FIVE PILLARS OF CHARACTER PERMEATE EVERYDAY LIFE AT FAR HILLS. OUR COMMITMENT TO THE PILLARS IS FUNDAMENTAL TO MAKING OUR COMMUNITY STRONG AND THE WORLD A BETTER PLACE. 18 17 105 69 0 0 1296942 1241756 9674141 9476121 156836 163021 302640 231490 11430559 11112388 1425916 1343472 0 0 6707904 6519126 0 0 795348 4699130 4532034 12832950 12394632 -1402391 -1282244 47666822 47525616 6768704 6750595 40898118 40775021 X THROUGH ACADEMIC EXCELLENCE AND CHARACTER DEVELOPMENT, FAR HILLS COUNTRY DAY SCHOOL PROVIDES EACH CHILD BRILLIANT BEGINNINGS FOR SUCCESS IN THE MODERN WORLD. 0 0 8914275 1343472 9308530 INSTRUCTIONAL SERVICESFAR HILLS COUNTRY DAY SCHOOL CHALLENGES STUDENTS TO THINK INDEPENDENTLY AND ACHIEVE CONFIDENTLY. THE SCHOOL'S SHARED GROWTH MINDSET CONTRIBUTES TO ITS EXPERIENTIAL, STUDENT-CENTERED APPROACH TO LEARNING, ITS WELCOMING COMMUNITY OF FAMILIES, AND ITS FOCUS ON DEVELOPING INDIVIDUAL STRENGTHS. AT FAR HILLS, STUDENTS ARE EMPOWERED TO GROW INWARD, OUTWARD, AND UPWARD AND GRADUATE PREPARED TO LEAD AT THE COUNTRY'S MOST COMPETITIVE SECONDARY SCHOOLS. THE ACADEMIC JOURNEY STARTS IN PRESCHOOL AND CONTINUES THROUGH GRADE 8. STUDENTS EXPLORE AND STUDY A VARIETY OF SUBJECTS, INCLUDING MATH, SCIENCE, LANGUAGE ARTS, STEAM, ART, SOCIAL STUDIES, AND HISTORY, AND MORE! WE INVITE YOU TO TAKE A DEEP DIVE INTO THE FAR HILLS COUNTRY DAY SCHOOL CURRICULUM BY VIEWING THE CURRICULUM GUIDE BELOW, OR BY CLICKING THE BUTTON THAT SAYS "EXPLORE OUR CURRICULUM" TO SEARCH BY GRADE LEVEL AND SUBJECT.FH HAS CONTINUED ITS LONG HISTORY OF PLACING 8TH GRADE GRADUATES IN TOP RATED PREPARATORY SCHOOLS IN THE NORTHEAST.THE SCHOOL PROVIDED 215 ENROLLED STUDENTS WITH EDUCATIONAL SERVICES, PROGRAMMING, AND OTHER STUDENT-CENTERED OFFERINGS DURING FY2025. THE SCHOOL ALSO PROVIDED 215 ENROLLED STUDENTS WITH LUNCH, SNACKS, ETC. DURING FY2025. 154574 0 131490 OTHER AUXILIARY SERVICES AFTER SCHOOL CARE, ENRICHMENT WORKSHOPS, HOMEWORK CLUB, SUMMER PROGRAMS. 63873 0 69717 MUSIC CONSERVATORYTHE SCHOOL OFFERS A MUSIC PROGRAM AVAILABLE TO ALL ENROLLED STUDENTS WITH AN AVERAGE OF 53 REGISTERED FOR MUSIC LESSONS IN THE FALL AND SPRING. 9132722 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 28 0 105 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NJ X X LORI A FITZGIBBON CFO 9087660622 ROUTE 202 PO BOX 8 FAR HILLS NJ 07931 GEORGIA ZAISER HEAD OF SCHOOL 60.00 X X 328087 0 85535 JOE FERRARO CHAIR 10.00 X X 0 0 0 ENZO VARTULI VICE CHAIR 2.00 X X 0 0 0 DIANE CALELLO SECRETARY 3.00 X X 0 0 0 DR TIM ISGRO TREASURER 5.00 X X 0 0 0 JOHN ABRIGHT TRUSTEE 2.00 X 0 0 0 ALEXANDRIA ALLEN TRUSTEE 3.00 X 0 0 0 RICH ANTONECK TRUSTEE 2.00 X 0 0 0 ROHAN ARJUN TRUSTEE 2.00 X 0 0 0 HOPE COOPER TRUSTEE 2.00 X 0 0 0 CHAPIN DURLING TRUSTEE 2.00 X 0 0 0 ANDREW EGGINTON TRUSTEE 1.00 X 0 0 0 TARA FRERICH TRUSTEE 2.00 X 0 0 0 STEPHANIE GLICKMAN TRUSTEE 2.00 X 0 0 0 CRAIG HALL TRUSTEE THRU JULY 2024 1.00 X 0 0 0 PRISCILLA MILLER TRUSTEE 2.00 X 0 0 0 LIZ MORRISON TRUSTEE THRU JUNE 2025 1.00 X 0 0 0 JOHN PALMER TRUSTEE 2.00 X 0 0 0 KASEY SCHWARTZ TRUSTEE 1.00 X 0 0 0 LAURA VAN ROOYEN TRUSTEE 2.00 X 0 0 0 LORI A FITZGIBBON CFO 50.00 X 180029 0 23352 PATRICIA BARRY DIRECTOR OF LOWER SCHOOL 50.00 X 153619 0 25171 MARGARET AHERN DIR. ADMISSION & ENROLLMENT MANAGEMENT 50.00 X 133439 0 29217 EDWARD J THOMPSON DIR. PLACEMENT & FUNDRAISING 50.00 X 129421 0 24024 RONALD M SANSONE DIRECTOR OF ATHLETICS 50.00 X 111351 0 22872 OLIVER J FORSYTHE DIRECTOR OF TECHNOLOGY 50.00 X 110050 0 21843 EMILY K SEELAUS DIRECTOR OF UPPER SCHOOL 50.00 X 109128 0 4690 1255124 0 236704 9 0 1 0 BROCK & COMPANY INC 257 GREAT VALLEY PARKWAY MALVERN PA 19355 FOOD SERVICES 454427 DEX AND CO LLC 90 GROVE STREET UNIT 2 SOMERVILLE NJ 08876 CUSTODIAL SERVICES 222390 TLP CLIMATE CONTROL SYSTEMS INC 400 RIKE DRIVE MILLSTONE TOWNSHIP NJ 08535 MAINTENANCE SERVICES 168555 ACTIVE INTERNET TECHNOLOGIES LLC PO BOX 783838 PHILADELPHIA PA 191783838 WEBSITE DESIGN SERVICES 119090 4 193654 87028 961074 181179 1241756 TUITION AND FEES 611600 8822020 8822020 AUXILIARY SERVICES 611600 654101 654101 9476121 163019 163019 61009 3790 57219 57219 57219 130870 130868 2 2 2 138111 193654 131423 6688 6688 40120 1778 38342 38342 62552 28936 33616 33616 RETIREMENT PLAN CREDIT/FORFEITURE 900099 63920 63920 TUITION FORFEITURE 900099 21750 21750 OTHER REVENUE 900099 6096 6096 3859 3859 95625 11112388 9509737 0 360895 1343472 1343472 732552 263910 344627 124015 4590971 3026193 1101811 462967 157138 104493 36961 15684 633784 462655 120357 50772 404681 250905 109259 44517 11283 11283 43700 43700 164684 113626 45848 5210 133096 133096 323694 315710 7926 58 373138 347019 22388 3731 738792 554094 177310 7388 45503 43021 2383 99 13894 13894 118216 118216 1263759 947815 303302 12642 175788 131841 42189 1758 FOOD SERVICES 417297 417297 REPAIRS AND MAINTENANCE 341599 256199 81984 3416 PROGRAMS, WORKSHOPS AND 106731 106731 STUDENT SUPPORT AND ACT 102188 102188 158672 80347 15234 63091 12394632 9132722 2466562 795348 56622 39401 4987879 5765169 352924 269917 481401 847931 41098 37121 129443 66191 46632893 21180915 26251315 25451978 15366140 15047908 47666822 47525616 798339 767318 2187090 2197978 3783275 3785299 6768704 6750595 X 36037072 35643303 4861046 5131718 40898118 40775021 47666822 47525616 X -1282244 1192835 2500 -36188 X X 0 1 X 1 0 X 2116446 2081933 1739591 1296942 1241756 8476668 2116446 2081933 1739591 1296942 1241756 8476668 408425 8068243 16211 63294 180773 231942 224028 716248 329629 30456 144750 8689 45030 558554 122448 44123 229230 95625 491426 10242896 52211213 0.78770 0.77770 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REBATES REWARDS - 2021 AMOUNT: $ 93,175. 2022 AMOUNT: $ 19,492. 2023 AMOUNT: $ 6,030. 2024 AMOUNT: $ 3,859. REFUNDS - 2021 AMOUNT: $ 29,167. 2022 AMOUNT: $ 5,056. OTHER REVENUE - 2021 AMOUNT: $ 106. 2022 AMOUNT: $ 19,575. 2023 AMOUNT: $ 38,260. 2024 AMOUNT: $ 6,096. TUITION FORFEITURE - 2023 AMOUNT: $ 184,940. 2024 AMOUNT: $ 21,750. RETIREMENT PLAN CREDIT/FORFEITURE - 2024 AMOUNT: $ 63,920. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15382338 450492 1192837 877000 16148667 14102740 240000 1303598 264000 15382338 14034040 64900 824038 820238 14102740 15962979 125400 -1692756 361583 14034040 12077290 160850 3726645 1806 15962979 0.72669 0.21357 0.05974 0 0 1031029 1031029 42612639 18927699 23684940 2970276 2234268 736008 18949 18948 1 25451978 INVESTMENT IN LIMITED PARTNERSHIP 15047908 F 15047908 X 10775436 1192835 2500 34038 1229373 9546063 1566325 1566325 11112388 10898533 70226 70226 10828307 1566325 1566325 12394632 PART V, LINE 4: THE PURPOSE OF THE SCHOOL'S ENDOWMENT IS TO SUPPORT THE LONG TERM FINANCIAL STABILITY OF THE ORGANIZATION. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED ON PART VIII. LINE 10B 28,936. RENTAL EXPENSES INCLUDED ON PART VIII, LINE 6B 3,790. LOSS ON DISPOSAL OF ASSETS 1,312. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIP INCLUDED ON PART IX, LINE 2 1,343,472. TUITION REMISSION INCLUDED ON PART IX, LINE 9 174,362. RECLASS INDIRECT SPECIAL EVENTS EXPENSES TO PART IX 48,491. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE OFF OF PLEDGE RECEIVABLE 37,500. COST OF GOODS SOLD INCLUDED ON PART VIII. LINE 10B 28,936. RENTAL EXPENSES INCLUDED ON PART VIII, LINE 6B 3,790. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIP INCLUDED ON PART IX, LINE 2 1,343,472. TUITION REMISSION INCLUDED ON PART IX, LINE 9 174,362. RECLASS INDIRECT SPECIAL EVENTS EXPENSES TO PART IX 48,491. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL POSTS ITS NON-DISCRIMINATION POLICY ITS WEBSITE'S HOMEPAGE. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVED ASSISTANCE FROM THE STATE OF NJ TO SUPPORT THE FUNDING OF BOOKS, INFORMATION TECHNOLOGY, SCHOOL NURSE SUPPORT, AND SECURITY FUNDING FOR SECURITY GUARDS. THIS FUNDING IS FOR ALL STUDENTS IN THE STATE OF NJ AND IS PART OF A STATE APPROPRIATION WITH A PER STUDENT AMOUNT FOR EACH CATEGORY. THE SCHOOL ALSO PARTICIPATES IN ERATE FUNDING WHICH IS ADMINISTERED THE USC (UNIVERSAL SERVICE ADMINISTRATIVE COMPANY). THIS PROGRAM ASSISTS IN FUNDING INTERNET ACCESS FOR SCHOOLS AND LIBRARIES. IT IS ESPECIALLY MEANT TO SERVE LOCATIONS WITH STUDENTS OF FAMILIES WITH INCOME BELOW THE NATIONAL SCHOOL LUNCH TABLE. FAR HILLS IS ALLOWED LIMITED PARTICIPATION, BUT STILL PARTICIPATES AND RECEIVES AID IN THE FORM OF INTERNET DISCOUNTS AND ASSISTANCE WITH CONNECTIVITY INFRASTRUCTURE COSTS. SIP & SAVOR 173445 67115 106330 40791 450 28136 9610 GOLF OUTING 155550 126539 29011 1308 32234 10280 7542 1 2770 2770 1072 331765 193654 138111 42099 32684 38416 18224 131423 6688 40120 1778 1 0.85000 40120 1778 1778 38342 NJ 1 0 1 0 0.00000 1.00000 KEVIN HEARNE PO BOX 8 FAR HILLS NJ 07931 0 EILEEN GROSS 651 THE GAMING MANAGER ORGANIZED THE RAFFLE, FILED STATE PAPERWORK, OVERSAW THE RAFFLE AND VOLUNTEERS FOR ALL FUNDRAISING EVENTS. X 0 1 FINANCIAL ASSISTANCE 39 1325472 LOUIS STARR SCHOLARSHIP 1 18000 PART I, LINE 2: FINANCIAL ASSISTANCE THE SCHOOL FOLLOWS A FORMAL PROCESS TO DETERMINE THE ALLOCATION OF AVAILABLE MONIES FOR FINANCIAL ASSISTANCE. THE SCHOOL USES THIRD PARTY COMPANY THAT PROVIDES FINANCIAL AID ASSESSMENT SERVICES, IN THIS PROCESS. EACH FAMILY SUBMITS AN APPLICATION TO THE THIRD PARTY TOGETHER WITH THE FAMILY'S FINANCIAL SUPPORTING DOCUMENTATION, INCLUDING BUT NOT LIMITED TO THEIR COMPLETED 1040. THE THIRD PARTY DETERMINES AND MAKES RECOMMENDATIONS TO THE SCHOOL AS TO SUITABILITY FOR CONSIDERATION FOR FINANCIAL ASSISTANCE. THE SCHOOL REVIEWS THE RECOMMENDATIONS AND MAKES AWARDS BASED ON THE RECOMMENDATIONS AND AVAILABLE MONIES. THE STUDENT'S TUITION BILL IS REDUCED BY THE AMOUNT OF THE FINANCIAL AID AWARDED. LOUIS STARR SCHOLARSHIP A HIGH ACHIEVING MATHEMATICS STUDENT IS AWARDED WITH THE LOUIS STARR SCHOLARSHIP. THE STUDENT'S TUITION BILL IS REDUCED BY THE AMOUNT OF THE SCHOLARSHIP AWARDED. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 GEORGIA ZAISER HEAD OF SCHOOL 319449 0 0 0 8638 0 13000 0 72535 0 413622 0 0 0 LORI A FITZGIBBON CFO 179798 0 0 0 231 0 7500 0 15852 0 203381 0 0 0 PATRICIA BARRY DIRECTOR OF LOWER SCHOOL 153253 0 0 0 366 0 6300 0 18871 0 178790 0 0 0 MARGARET AHERN DIR. ADMISSION & ENROLLMENT MANAGEME 133312 0 0 0 127 0 0 0 29217 0 162656 0 0 0 EDWARD J THOMPSON DIR. PLACEMENT & FUNDRAISING 129366 0 0 0 55 0 5200 0 18824 0 153445 0 0 0 PART I, LINE 1A AS OUTLINED IN AN EMPLOYMENT AGREEMENT WITH THE SCHOOL, THE HEAD OF SCHOOL, IS REQUIRED TO RESIDE ON CAMPUS TO MEET THE ONGOING NEEDS OF THE SCHOOL COMMUNITY. THE SCHOOL PROVIDED THE HEAD OF SCHOOL WITH A HOUSING ALLOWANCE IN THE AMOUNT OF $58,800. THE HOUSING ALLOWANCE WAS TREATED AS NONTAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III). X 4 130870 AVG. SELLING PRICE X SECURITY EQUIPMENT 1 41000 COST X TECHNOLOGY EQUIPMENT 1 9309 COST 0 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN PART I, COLUMN (B) IS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S OUTSIDE ACCOUNTING FIRM ASSISTS IN THE PREPARATION OF THE FORM 990. THE BOARD OF TRUSTEES DELEGATES THE REVIEW OF THE FORM 990 TO THE AUDIT AND FINANCE COMMITTEES. THE AUDIT COMMITTEE REQUESTS THE ADDITIONAL FINANCIAL REVIEW OF THE FINANCE COMMITTEE TO AUGMENT SMALL MEMBERSHIP IN THE AUDIT COMMITTEE. THE FINANCE COMMITTEE REVIEWS AND APPROVES THE PUBLIC INSPECTION COPY OF THE FORM 990. THE AUDIT & FINANCE COMMITTEES WILL PRESENT AND APPROVE THE 990 TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. THE 990 IS SHARED ELECTRONICALLY WITH THE GOVERNING BODY VIA THE BOARD PORTAL. FORM 990, PART VI, SECTION B, LINE 12C FAR HILLS COUNTRY DAY SCHOOL HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES. EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE MUST ANNUALLY SIGN AND SUBMIT THE CONFLICT OF INTEREST STATEMENT TO THE CFO AND ASSISTANT TO THE HEAD OF SCHOOL DISCLOSING THEIR AWARENESS OF THE POLICY AND DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. IF A POTENTIAL OR ACTUAL CONFLICT IS DISCLOSED AT ANY TIME, THE BOARD WILL REVIEW THE MATERIAL FACTS AND CIRCUMSTANCES AND FOLLOW-UP ON THE NON-COMPLIANCE. IF IT IS ESTABLISHED THAT AN ACTUAL CONFLICT EXISTS, THE INDIVIDUAL WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DISCUSSIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL THE CONFLICT IS RESOLVED. ANY DISCUSSION REGARDING THE CONFLICT OF INTEREST TRANSACTION IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS, REFLECTING THE CONFLICT OF INTEREST THAT WAS DISCLOSED, THE NAME OF THE INTERESTED PERSON, AND THE FINAL DETERMINATION AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S COMPENSATION IS ESTABLISHED BY THE BOARD OF TRUSTEES GOVERNANCE COMMITTEE AND BOARD CHAIR. IN DETERMINING THE HEAD OF SCHOOL'S COMPENSATION, THE COMMITTEE USE AN ASSESSMENT SURVEY OF THE HEAD OF SCHOOL AND COMPENSATION STUDY OF SIMILAR POSITIONS IN THE SAME GEOGRAPHIC AREA. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2024 BY A RIGOROUS COMMITTEE THAT REVIEWED SEVERAL COMPENSATIONS OF NEARBY INDEPENDENT SCHOOL HEADS. FOR OTHER OFFICERS, THE HEAD OF SCHOOL REGULARLY REVIEWS THE PUBLISHED SALARY RANGES IN THE SAME GEOGRAPHIC AREA FOR SIMILAR POSITIONS. COMPENSATION FOR OTHER OFFICERS IS DETERMINED BY THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST OR BY CALLING. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.ORG AND OTHER SIMILAR WEBSITES. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL OF ASSETS 1,312. WRITE OFF PLEDGE RECEIVABLE -37,500. FORM 990, PART XII, LINE 2C: THE FAR HILLS AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE CURRENT CHAIR OF THE AUDIT COMMITTEE DOES A THOROUGH REVIEW AND ATTESTS TO HIS FINDINGS AT BOTH FINANCE COMMITTEE MEETINGS AND FULL BOARD MEETINGS.