Some Background on AA Financials

American Academy's fiscal year begins July 1st and ends June 30th. Our school 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. American Academy 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 meetings. These financial statements are unaudited and are not adopted by the Board but are available to the public.

American Academy is required to submit a budget to Douglas County School District (DCSD) and the CDE prior to commencement of each fiscal year; generally in the month of May. We are allowed to make revisions to our budget during the fiscal year, but our final version must be submitted to DCSD and the CDE 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. With the exception of our first year of operations, our school elects to have an independent audit performed, rather than being included in the audit performed for DCSD; 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 the Board of Directors and are available to the public.

If you would like to inquire about revenue or expense items, please contact us at board@americanacademyk8.org.

American Academy Financials

Current Fiscal Year Unaudited Statements:

July
August
September
October
November
December
January
February
March
April
May
June

Current Fiscal Year Budgets:

Final Approved Budget
Original Approved Budget

Previous Fiscal Year Audited Statements:

Ending 6/30/09
Ending 6/30/08
Ending 6/30/07
Ending 6/30/06