Imagine Charter School at Firestone

The St. Vrain Valley School District Board of Education on Wednesday renewed one charter school’s charter, then continued to grapple with how to handle applications for new charter schools.

Although the vote to renew Imagine Charter School at Firestone’s charter was unanimous, school board members raised concerns about its budget.

Only 32 percent of Imagine at Firestone’s revenue is spent on instruction, board vice president Rick Hammans said. The school’s 2010 audit showed $1.3 million of its $4.3 million revenue going to instruction.

The audit shows that Imagine at Firestone is paying its educational management provider — Imagine, Inc. — about 23.6 percent of its revenue, or $1 million, for the lease on its building and other equipment, and another 14.6 percent, or $625,000, for services.

Hammans urged Imagine at Firestone’s board of directors to make a “significant effort” to spend more money in the classrooms…

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