The Cheyenne Mountain School District's tradition of excellence extends beyond academics, athletics, and the arts to all facets of the District including its financial operations. The Cheyenne Mountain School District has a proud history of being recognized as a leader in school district financial management, and proudly maintains a credit rating of Aa1, the highest possible rating for any public entity in the state.
Since 2009, the District has faced significant financial challenges resulting from state-level funding cuts in excess of $4 million and a gradual decline in student enrollment due to lack of space for new construction in most all District 12 neighborhoods. In 2011 residents of District 12 voted to increase property taxes via a mill levy override to provide the District with an additional $1.4 million annually in an attempt to offset some of these fiscal challenges.
This additional local revenue will allow the District to avoid further cuts to student programs and will help the District restore a competitive teacher salary position, which the Board of Education has established as a top priority. This additional revenue is also necessary to help District 12 keep pace with school districts in the Pikes Peak area that have the advantage of growing student populations and associated revenue.
Documents Supporting Fiscal Transparency
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3-Year Budget Plan
7/9/12
- Natalie Morin
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Investments
12/18/12
- Natalie Morin
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Audits
7/9/12
- Natalie Morin
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Monthly Details
7/9/12
- Natalie Morin
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Budgets
7/9/12
- Natalie Morin
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Quarterly Financial Reports
12/18/12
- Natalie Morin
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Fiscal Transparency Information from CDE
7/9/12
- Natalie Morin
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Salary Schedules
7/9/12
- Natalie Morin
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Fiscal Year 2011 Total Budget: $57,576,798
General Fund
The largest of the District's funds, this covers the expenses of the day-to-day operations of the schools such as salaries, fringe benefits, materials, supplies, utilities, and contingency reserves.
Bond Redemption Fund
Expenditures from this fund pay the principal and interest on general obligation bonds sold to finance school construction.
Charter School Fund
All fiscal activities of the Cheyenne Mountain Charter Academy transpire within this fund, which also receives a transfer from the District's general fund.
Capital Projects Fund
This fund, by statute, is limited to expenditures for capital purchases such as vehicles, equipment, site acquisition, site improvements, construction, repair, and modification.
Pupil Activity Fund
Student government and many athletic program expenses are paid from these funds which are maintained at the various school locations.
Insurance Reserve Fund
This fund is used to collect premiums and pay claims for the District's dental insurance program for employees.
Food Services Fund
All costs associated with the school lunch program transpire within this fund.
Risk Management Fund
All activity regarding property, liability, and workers' compensation insurance transpires within this fund.
Land Fund
This fund is reserved for improvement to undeveloped land and existing school sites.
General Fund Revenues & Expenditures
Where the money comes from...
Fiscal Year 2011 General Fund Revenue: $30,611,225.00
(audited)
Where the money goes...
Fiscal Year 2011 General Fund Expenditures: $28,974,594.00
(audited)
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