A Chicago charter school closed Thursday as a result of funding uncertainty because of the state budget impasse.

Officials at Galapagos Charter School, located in Humboldt Park, cited the budget cuts proposed by the district as a reason for closing the school, which serves 236 mostly low-income children. The school's CEO said the decision to shutter Galapagos was not driven by the fact that the charter school was on the district's academic warning list. 

"It was going to be more and more difficult for us to provide the kind of services we believed were necessary to support our scholars," Galapagos CEO Michael Lane told the Chicago Sun-Times. "We would have gone very bare bone this year. Quite honestly if those cuts had remained, we were almost living from paycheck to paycheck. That's no way to run a school."

Without financial help from the state for a $676 million pension payment due by the end of the month, Chicago Public Schools (CPS) officials have said local schools could see their per-pupil funding slashed by roughly 40 percent.

There is a possibility that several more Chicago charter schools could close if the district implements the deep budget cuts, according to the Illinois Network of Charter Schools.