East Asia Regional Council of Overseas Schools

EARCOS ADDRESS
(FOR MAIL AND COURRIER SERVICE)

EARCOS

Brentville Subdivision
Barangay Mamplasan
Biñan, Laguna 4024
Philippines
Phone: 63-49-5115993/5994
Fax: 63-49-5114694
Email: info@earcos.org

EARCOS Board of Directors

Harlan Lyso, President
Robert Gross, Vice President
Larry Jones, Secretary
Tim Carr, Treasurer
David Shawver, Director at Large
John McBryde, Director at Large
Robert Sills, Executive Director
Linda Sills, Assoc. Exec. Dir.

Office of Overseas Schools, U.S. Department of State

Keith Miller, Director; Connie Buford, Regional Education Officer for East Asia

EARCOS Administrator Conference----EARCOS Teachers’ Conference
Vitz Baltero – vitz@earcos.org
Elaine Repatacodo – elaine@earcos.org

Web Developer, Spring Heads’ Meeting, Weekend Workshop, ET NewsLetter
Edzel S. Drilo – edrilo@earcos.org

I.T Coordinator, Membership
Ver Castro – vercastro@earcos.org

Revised August 1, 1998
THE EAST ASIA REGIONAL COUNCIL OF OVERSEAS SCHOOLS CONSTITUTION

Introduction: This is a compilation of EARCOS Board of Directors’ policies, which supplement the EARCOS Constitution and By-Laws. These policies do not conflict with the Constitution and By-Laws of the Council. These policies are set by the EARCOS Board as reflected in the records of Board proceedings. A Policy Manual is required by the By-Laws (Section IV, Procedures, D.).

I. Central Office
The EARCOS central office location shall be determined by the EARCOS Board.

II. EARCOS Services

A. Council services which support the purposes of EARCOS include, but are not limited to:

1. sponsoring an annual administrators’ conference and an Annual General Meeting;
2. providing professional development opportunities for member schools;
3. facilitating activities of sub-regional conferences
4. publishing a newsletter three times per year.
5. publishing an annual membership directory;
6. supporting WASC (Western Association of Schools and Colleges) accreditation activities;
7. coordinating and/or conducting surveys of member schools, as appropriate; (All studies and surveys using the EARCOS name require the approval of the Executive Director.)
8. assisting schools in identifying resources which will help them to address instructional and administrative issues;
9. coordinating the sharing of consultant services among member schools, as appropriate;
10. liaising with the U.S. Department of State Office of Overseas Schools (A/OS) and the Regional Education Officer for East Asia;
11. maintaining EARCOS representation on the AAIE Board;
12. maintaining contact with other regional associations;
13. maintaining EARCOS records; and
14. encouraging the expansion of school-to-school relationships.

B. The Board of Directors shall periodically review the services provided to Member Schools and may add or delete services.

C. Responsibility for implementing services is delegated to the Executive Director. An annual report of services offered will be made to the Board and the membership.

D. Services and funds of the Council are administered for the benefit of all Member Schools.

E. Survey results will normally be distributed to participating Member Schools and A/OS.

F. EARCOS encourages research projects whose findings may be helpful to its member schools. Although EARCOS endorsement is not required, if a researcher would like to request endorsement of the project by EARCOS, he or she should submit the proposal to the Executive Director who will then present the proposal to the Board for final approval. If the Board endorses the project, the researcher is responsible for disseminating the findings to participating schools and to the EARCOS office for possible publication. EARCOS does not intend to fund any research project as other sources exist for funding research.

III. Regional and Provisional Membership

A. Eligibility for membership is contained in the EARCOS By-Laws.

B. The Executive Director will develop membership enrollment forms stating current fees and payment procedures and asking such information as may be required for the Council records. Membership enrollment forms shall contain a statement that members are asked to pay in U.S. dollar checks drawn on U.S. banks. Application information shall be forwarded to prospective members upon request. Forms for membership renewal shall be sent to all members each year. The Executive Director shall receive and deposit
membership funds, maintain records of membership and dues paid, and report membership to the Board.

C. Membership dues are established annually by the Board of Directors. Dues are payable in full by September 1 of each year.

D. All Member Schools which have paid annual dues in full are eligible to participate in Council services.

E. Membership may be terminated or suspended by a simple majority vote of the members of the Board. Just cause shall be failure to abide by the provisions of the Council’s Constitution and By-Laws and/or the policies adopted by the Board. Prior notice of proposed termination or suspension and reasonable opportunity to respond to a statement of cause must be afforded a member.

F. Application and Review Process

1. Application Process
All application materials must be sent to the EARCOS Executive Director. The completed application for Regional or Provisional Membership will include:
a. a copy of the institution’s charter, by-laws, and admission requirements;
b. a copy of the school’s philosophy and objectives;
c. a breakdown of student composition by grade level and nationality;
d. evidence that the school has been in operation for at least one full academic year;
e. a copy of the school’s end-of-year financial report (preferably an audit);
f. two letters of support by heads of member schools;
g. a statement of reasons for wishing to join EARCOS;
h. evidence of the applicant’s status with regard to accreditation; and
i. the completed application form for EARCOS Membership
j. application fee of $100.

2. Review Process
a. Upon receipt of all required documentation, the Executive Director will review the application packet.
b. If documentation is complete, the Executive Director will either visit the applicant school or will arrange for the head of an EARCOS member school to visit the applicant school in order to ascertain the school’s compliance with EARCOS Membership Standards.

c. The Membership Committee Chair will report to the Board as to whether the school meets the criteria for membership.

3. Approval Process
The Board of Directors will take action on membership applications at the regularly scheduled meetings of the Board in November and in April. The Board may delay its decision if additional information is warranted. All costs incurred in the application process will be paid by the school requesting membership.

IV. Meetings

A. The Board of Directors shall determine the sites and dates of Board Meetings and Annual Membership Meetings. The Board will coordinate sites and dates of Sub-Regional Conferences and meetings as needed to avoid conflicts and to provide services for Sub-Regional groups.
B. The Board of Directors shall establish the EARCOS calendar.
C. The Board of Directors shall approve the annual administrators’ conference program and set registration fees for all categories of participants.
D. The organization of meetings of the membership shall be governed by the Council’s By-Laws.
1. The President, or in his/her absence, the Vice-President, will serve as Chair of the meeting.
2. Minutes of all Board meetings will be recorded. These minutes will be maintained by the Executive Director.
3. All minutes shall be approved at the next regular meeting of the Board.
4. All votes are cast by the Chief Administrator of the member school or his/her designee. Absentee or proxy balloting is not permitted. Votes will be cast according to the formula contained in the By-Laws.

V. Ex-Officio Members

The immediate past president of the Board shall be a non-voting member of the EARCOS Board of Directors. Expenses shall be in accordance with those provided for other Board Members

VI. Committees

A. The Board President will appoint the Chair and members of the Nominating Committee, the EARCOS/WASC Accreditation Committee, and other committees as needed. The Vice-President of the Board, who serves as the Chair of the Membership Committee, will appoint Membership Committee members.

B. Actions of all committees other than the Nominating Committee may be rescinded or amended by the Board.

C. Each committee may adopt sub-rules as needed.

D. Chairs of the Nominating and EARCOS/WASC Accreditation Committees will give reports at the Annual General Meeting.

VII. Financial Management

A. The fiscal year of the Council will be from August 1 to July 31.

B. All accounts and records are maintained by the Executive Director for the period of the fiscal year. Reports of financial status will be made to the Board at its regular meetings and annually to the membership.

C. An independent audit of Council finances will be made annually and reported to the Board.

D. All funds of the Council are to be deposited in financial institutions designated by the Board of Directors. Signatures on bank accounts shall be determined by the Board of Directors.

E. The Executive Director is authorized to incur expenses, pay outstanding accounts, and transfer funds to accounts for the benefit of the Council.

F. The Council will maintain financial reserves that are, at a minimum, equal to the current year’s operating budget.

G. When drafting the Council’s annual operating budget, investment income from the financial reserves and any principal of the financial reserves that may exist in excess of the projected budgeted expenses will be considered as a source of funds prior to considering increases in EARCOS membership dues and/or fees.

H. The executive director may approve expenditures up to an amount equal to, but not to exceed 2% of the total approved budget per occurrence, up to a maximum total authorization of 10% of the total approved budget. All occurrences are to be reported to the Treasurer and President within two weeks following the expenditure.

VIII. The Executive Director

A. The position of Executive Director will be a full time position. Compensation for the Executive Director will be determined by the Board of Directors.

B. Services performed by the Executive Director will be evaluated periodically by the Board of Directors. Evaluation shall be given in writing by the President.

C. Duties of the EARCOS Secretary and Treasurer may be delegated to the Executive Director.

D. The Executive Director is responsible to the Board of Directors for the following duties:

1. Initiate action on all EARCOS projects and services and provide direction and conditions for such services as needed.
2. Present an evaluation of projects and services to the Board and recommend changes or additional services.
3. Maintain minutes of all proceedings of the Board and minutes of all meetings of the membership.
4. Maintain custody of the corporate seal and all books and papers related to EARCOS business.
5. Maintain records of all receipts, funds, and property of EARCOS.
6. Collect and receive all monies due to and receivable by EARCOS.
7. Deposit all funds in a place of deposit designated by the Board.
8. Report on the financial status of EARCOS to all Board meetings and annual meetings.
9. Arrange an annual audit of EARCOS transactions.

EARCOS
Investment Strategies
Approved - April 1998

INVESTMENT OBJECTIVES:

1. to preserve, over time, the principal value of assets as measured in real, inflation-adjusted, terms.

2. to optimize, over the long run, the total rate of return on investment assets, assuming an acceptable risk level as determined by the EARCOS Board of Directors.

DEFINITION OF INVESTMENT ASSETS:

1. Funds held in trust on behalf of the US Department of State will not be included in the calculation of asset allocation, but will be invested consistent with conditions delineated in Article VI of the agreement between EARCOS and the Office of Overseas Schools of the US Department of State.

2. Budgeted funds received during the current fiscal year will be held in CMA accounts or short term CD s and not considered to be investment assets.

3. Other than funds held in trust for the US Department of State, all funds remaining at the conclusion of each fiscal year will be transferred from operating accounts and become investment assets.

EQUITY INVESTMENTS:

1. The purpose of equity investments is to provide appreciation of principal and growth of investment income. (Investing in equities assumes greater market variability and risk.)

2. As long-term guideline, equity investments should normally approximate 50% of the total investment fund assets.

FIXED-INCOME INVESTMENTS:

1. The purpose of fixed-income investments is to provide a predictable source of income, reduce the variability of the total portfolio market value and preserve the principal value of the investment fund.

2. As a long-term guideline, investments in fixed-income securities will normally constitute approximately 50% of the total investment funds.

3. At least $50,000 of available investment funds will be placed in short-term certificate of deposits to be available for unforeseen expenditures.

ASSET ALLOCATION:

1. Upon the recommendation of professional investment managers but without compromising the normal long-term mix of 50% equities and 50% fixed-income securities, the actual market exposure of stocks may vary from 20% to 60% and fixed-income securities from 40% to 80%.

MANAGEMENT AND EVALUATION:

1. The EARCOS Board of Directors will select investment managers and be responsible for authorizing any deviation from the normal allocation of assets.

2. At the April EARCOS Board meeting the Board Treasurer, in consultation with the Executive Director, will provide the Board with a review of investment results and recommendations for a change in the investment managers and/or asset allocation. If appropriate, the EARCOS Board may change investment managers and/or asset allocation at any Board meeting.

REINVESTMENT:

1. All income generated from dividends, interests, rents, yields, capital gains, etc., shall be reinvested within the investment fund assets unless needed on an exceptional basis to offset expenses incurred under the annual operating budget.