Capital City deeply believes in transparency. Through the DC Public Charter School Board, Office of the State Superintendent of Education and our own regular communication with our community through events, newsletters, and website, we ensure our stakeholders can easily access information about our school operations and performance. Financial management is a key component to delivering our comprehensive program that educates the whole child.
Capital City is regularly ranked at the top of all DC public charter schools for our financial management (see: DC Public Charter School Board’s annual Financial Analysis Review). An independent auditor reviews Capital City’s financial practices and accounting each year, and the results of this audit are analyzed by the Public Charter School Board.
Oversight and Stability
Our leadership team and Board of Trustees oversee the school’s finances. We have never paid an outside company to manage operations. Every year, we strategically set a budget that is balanced, spending slightly less for operations than we expect to receive in revenue. This results in stable operations and a small capital reserve building each year.
The sale of our previous property in Columbia Heights has contributed to the school’s small funds reserve. We signed a 25-year lease with the District of Columbia in 2011 that includes locked-in rent fees for 100 Peabody Street NW. The lease also includes an option for a 25-year extension. Unlike traditional public schools, public charter schools must either buy out-right or rent their buildings. These costs are considered in our budget.
Our school’s high-quality program attracts students and families at all grade levels. Therefore, Capital City has not had cash flow problems associated with schools experiencing under-enrollment, allowing us to fully deliver our comprehensive program for children of all ages. Full enrollment also allows us to commit to our staff in terms of annual salary increases, consistent class sizes, excellent resources, and state-of-the-art facilities.
The budget planning process starts with an annual review of our financial and academic performance. School leadership and the Board’s Finance and School Performance Committees review the proposed budget to verify it is both financially sound and allocates funding to our strategic goals.
100% of our spending supports student achievement with specific spending on high-quality teachers (through salaries and professional development), classroom technology, and programs designed to educate the whole child (such as athletics, adventure, after-school activities, arts, and fieldwork). To support classroom learning, supplies are fully covered by the school. We order supplies for each teacher over the summer and throughout the year, and will reimburse when necessary. Every year, Capital City pays specific attention to our strategic goals to ensure we are allocating our spending to better serve our students and families.
Form 990 Tax Returns
Audited Financial Statements