Academy District 20 strives for strong financial health by providing financial guidelines and policies, authorizing use of funds and using recommended business practices, internal controls and accountability reports.
The district budgeting and accounting practices are governed by the Academy District 20 Board of Education Ends and the Executive Limitations. We follow Generally Accepted Accounting Principles (GAAP) established by the Governmental Accounting Standards Board (GASB) for both accounting and budgeting. Each year the Board of Education adopts and appropriates a budget no later than June 30.
With the passage of HB 10-1036, The Colorado General Assembly enacted the "Public School Financial Transparency Act,” which directs local education providers to post financial information online, in a free downloadable format.
Colorado Revised Statutes, 22-44-304, Commencing July 1, 2019
District Adopted Budget – Including Uniform Budget Summary (current and prior two years)
District Financial Audit (current and prior two years)
Salary Schedules or Policies (current and prior two years)
Financial Data File (current and prior two years)
List of Waivers Received by the School District: N/A
Standardized Description and Rationale for Each Automatic Waiver: N/A
Federal Form 990, 990-EZ, or 990-PF and Associated Schedules: N/A
Plan for Distributing Additional Mill Levy Revenue or Statement of Intent to Distribute: N/A
Other District-Specific Financial Information
The adopted budgets, financial audits, and salary schedules must be posted or updated within 60 days after completion or receipt of the applicable report, statement or document. The Financial Data Files for a particular year are required to be posted no later than March 1st of the following year. The list of waivers must be updated or posted within 30 days after a waiver is revoked or a new waiver is granted.
Disclaimer: Please consider context when evaluating financial transactions. Some transactions may appear improper on the surface but are perfectly normal and justifiable when placed in the proper context. We welcome your questions regarding our financial transactions or records.
Chief Financial Officer
Academy District 20
1110 Chapel Hills Drive
Colorado Springs, CO 80920
Phone: (719) 234-1200