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Carbon Valley Academy Finance Committee:



To ensure the proper oversight of Carbon Valley Academy’s:

1. Financial viability.

2. Financial planning, reporting, and operations, including the segregation of duties.

3. Annual budget preparation and independent audit.

4. Adherence to financial policies.



1. Recommendation to the Board of annual budget prepared by Executive Director or designee.

2. Recommendation to the Board of quarterly financial reports prepared by Executive Director or designee.

3. Recommendation to the Board of specifications for annual audit, auditing firm, and response to audit report.

4. Recommendation to the Board of long range financial forecasts prepared by Executive Director or designee.

5. Recommendation to the Board of Investment Policy revisions and investments prepared by the Executive Director or designee.

6. Recommendation to the Board of financial assumptions and scenarios, as developed by Executive Director or designee, to be included in Strategic and Long Range Plans.



To act with the full authority of the Board in “checks and balances” role for proper segregation of duties.


To recommend to the board for action all other reports and financial documents within the oversight responsibilities of the Board.


The committee chair is to act in role of the executive of the committee, in close collaboration with the Executive Director.  As such, the chair is responsible for directing the processes of the committee, convening the committee and managing the resources of the committee approved in the Cost of Governance policy.  All official Finance Committee communication with the board and board chair will be through the committee chair unless otherwise delegated to another committee member.  Nothing in this charge statement is intended or should be interpreted to limit the communication or the activities of the Executive Director as outlined in the Executive Director position description.


Accountability/Accountable To:

The committee is accountable to the board as a whole, and not to the board chair, individual board members, or the Executive Director.



All members shall be highly qualified in the area of finance.


The committee will consist of the CVA Board Treasurer (Chair), along with the Executive Director and at least one parent and one member of the community at large. The School attorney will be present as required.


Completion Date/Milestones Timeline:

The completion dates for all products will be determined by the Board’s annual calendar of reports.  Financial reports will be prepared in time to be included in the Board packet distributed prior to Board meetings for which a Finance Committee report is scheduled.


Resources Requested:

The Finance Committee will submit a request for expenditures in each annual budget and which are to be included in the Cost of Governance policy for that year.  Activities to be funded through this budget request will include but not be limited to:

1. Annual Audit

2. Board training in charter school financial oversight

3. Additional training as required for the Chair of the Finance Committee


Additional resources include but are not limited to:

1. Accessibility and up to two hours per month of the Executive Director or designee.

2. Legal advice as required.



Carbon Valley Academy Charter Schools Finance Committee:


Tony CareyTony Carey—Executive Director

Carbon Valley Academy


Tony Carey was a Carbon Valley Academy founding Board member and is our school's current Executive Director. Originally from England, Tony was transferred to the United States in 1978 by Swiss multinational AGIE s.a. He brings more than 30 years of business and managerial experience to the school.

The Careys are long term residents of Frederick where Tony is also the mayorl. Along with son Nick, the Carey family likes to travel and are long time Broncos fans.







Patty CraggPatty Cragg


Patty Cragg has a Bachelor of Science in Business Administration with emphasis in Finance from the University of Colorado and a MBA from Regis University. She has a strong background in finance having worked in both priviate and public sector financial-related positions since 1998. Patty is currently a Sr. Manager of Financial Planning and Analysis for Advanced Surgical Technologies.


Patty resides in Fort Collins, Colorado.








Christa HafemannChrista (Burger) Hafemann


Christa (Burger) Hafemann grew up in Montrose, CO riding horses and camping a lot. During college she moved to Denver where she graduated with her Bachelors in Geography and Environmental Sciences in 2005. In 2011, she completed her MBA in Finance. She currently is the program manager of Cybersecurity at a financial investment company and has held positions leading risk management reduction strategies at Lockheed Martin and Charles Schwab. She believes strongly in the vision of Carbon Valley Academy and is committed to further promoting it in the community as well as assisting in directing its growth.


Christa and her husband Jason have lived in Frederick/Firestone for 9 years and have 4 kids together with a new baby due to arrive in May. She and her family enjoy movies, board games, reading, and roadtrips together.







Carbon Valley Academy's Audit Firm:


John Cutler & Associates, LLC

John Cutler & Associates, LLC concentrates almost exclusively on auditing governmental and nonprofit entities. All staff members have assisted governmental clients in receiving the GFOA award for financial reporting, and one firm member is a reviewer for the GFOA award program.



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