Guffey Community Charter School is a public school, is largely funded like other Colorado public schools, and is subject to the same financial operating rules and public disclosure requirements as any public school (including Article 44, Title 22 of the Colorado Revised Statutes, the Public School Financial Transparency Act. The school operates like any other public school in the district, however the State grants several waivers which allow the local Board to assume certain responsibilities normally assumed by the District.
The school's primary funding is through the state per-pupil allocations. These monies are received by the RE-2 school district, which disburses them to Guffey School according to the terms of its contract with the district. In addition, the school receives small attendance funding, a special stipend from the state which is directed towards schools with lower enrollment, which naturally have higher per-pupil overhead costs. As a charter school, GCCS has additional discretion in seeking private and public grants to supplement its budget, as well as soliciting donations. The GCCS school board also maintains a sustainability fund for the purpose of stabilizing the school's financial resources given the significant variability in enrollment that can occur from year to year. Individuals or businesses interested in contributing to the sustainability fund should contact the Board President, Chris Peterson.
The school operates under a budget prepared annually by the Administrator. While budget and accounting details are reported to the Board monthly, full responsibility for these matters is delegated by the Board to the Administrator, in accordance with the school's Ends and Executive Limitation Policies.
The school's financial reports are prepared monthly by its bookkeeper, and audited annually by an independent Auditor. See below for complete Audited Financial Statements for GCCS. Information about all of RE-2's finances, including some relevant to GCCS, is available on the District website.
Beginning in 2015 (fiscal year 2014) the organizational and financial structure of the school was changed by the Board, acting under the advice of its accountants and attorneys. The school's daily transactions and operational income and expenses are administered by the Guffey Community Charter School Fund, which is controlled by the Board and operates as a governmental organization according to IRS regulations. The Guffey Community Charter School Foundation is a non-profit entity that raises revenue for the specific purpose of donation to the Fund. This donation is unrestricted and may be used at the Fund's discretion. The Foundation has a very small budget and is also controlled by the Board. Unless otherwise indicated, the documents linked below describe Fund financials. Note that Federal Form 990 does not apply to the school.
In order to meet the requirements of the Public School Financial Transparency Act, the school has posted the following information on this site. Please consider the context when evaluating any financial transactions. Some transactions that may appear unreasonable or improper in the raw data are perfectly normal and justifiable when viewed in the proper context. We encourage any questions you may have regarding our financial records.
The school operates with a fiscal year beginning on July 1 and ending on June 30.
