Challenge to Excellence Financials
Challenge to Excellence fiscal year begins July 1 and ends June 30. C2E uses a modified accrual method of fund accounting and our chart of accounts aligns with that of the Colorado Department of Education (CDE). A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives, as designated by Colorado state statute. C2E monitors these funds to ensure and demonstrate compliance with finance related legal requirements. Our Board of Directors reviews financial statements each month during the working session of the Board’s regular meeting. These financial statements are unaudited and are not adopted by the Board but are available to the public.
Challenge to Excellence is required to submit a budget to Douglas County School District (DCSD) prior to commencement of each fiscal year. We are allowed to make revisions to our budget during the fiscal year, but our final version must be submitted to DCSD in December. All budget revisions are adopted by the Board of Directors and are available to the public.
The school’s audit report is generally issued in September following the close of the fiscal year. Our audits are performed by an independent auditor, however our audit report must be provided to DCSD in September and our school is included as a component unit within DCSD’s audit report. The independent audit reports are adopted by our Governing Council and are available to the public. Prior year’s audits are available for review in the school’s business office.
Current Fiscal Year Quarterly Budget to Actual Reports
- Budget to Actuals 2009
- Budget to Actuals 2010
- Budget to Actuals 2011
- Budget to Actuals 2012
- Budget to Actuals 2013
Challenge to Excellence Budget Summary 2010-2011