GLADE PARK, Colo. (KKCO) - When District 51 announced its first round of budget cuts this week, the Glade Park Community School was on the on the chopping block. But rather than throw in the towel, residents of the small town say they'll work up a sweat as they fight to keep it open.

Though small in size, residents of Glade Park say their school has had a big impact on their students and community.

"It's been an incredible learning experience for our kids," said Diane Branham, a parent of a Glade Park student. "It's really brought the community back together because without the school there was really no central place for kids and families to get together."

But now, two years after they got their school, it's at risk of being taken away.

"I think everyone can imagine how devastating that is to hear," said Karyn Bechtel, a parent of a Glade Park student and President of On the Park, a non-profit that helped establish the school and continues to support it.

Trying to shore up a $10 million budget hole, District 51 announced Monday it could no longer afford the $110,000 it takes per year to keep the school running.

"We understand that what they're doing is very difficult for them also," said Branham.

But there's still one hope for the school's future.

"One of our options is to become a charter school," said Branham.

As a charter school, Glade Park would receive its own funding from the state and would be eligible for certain grants and money it could not get as a district school.

"We're totally ready to do that," said Bechtel. "And we're very optimistic that the district is going to help us make that happen in time for next fall."

Tuesday night, a big first step in making that happen -- the District 51 School Board asked staff to draft a resolution to put Glade Park on the fast track to charter status, bypassing deadlines and other red tape.

"Since this is a situation the district has really created through our necessary budget cuts, we wanted to make extra allowances for them to move ahead," said Diann Rice, a District 51 School Board Member.

If Glade Park does become a charter school, District 51 will lose some of its state funding, which is based on enrollment in district schools. But board members say money isn't everything.

"Everyone is so enthusiastic about what that school has been able to provide that we need to forgo some things," said Rice.

Residents say they'll be working overtime to make sure they don't forgo the chance to save their school.

"We've already got a good head start," said Bechtel.

The School Board is expected to vote on the resolution at their next meeting early in May.