Hertswood School could miss out on Government funding worth £600,000 if it cannot raise enough sponsorship money by October.
The Cowley Hill School needs £50,000, as part of its bid for specialist arts school status, to qualify for extra funding over the next four years.
It has gone to lengths to attract sponsorship from businesses in the area but remains a long way short of its target.
"The extra grant is money Borehamwood deserves and it would be terrible to miss out by not raising the money we need," said assistant head Andy Stainton, adding: "If we do not get the £50,000, we get no extra funding at all and cannot sustain projects."
Ambitious school plans to work with primary schools and community groups in the area to extend arts provision would be jeopardised if the bid falls through.
The paperwork for a bid was ready in March but the money was not, leaving the school an October deadline for the next round of bids.
A Hertfordshire County Council expert audited the bid paperwork and said it was likely to have succeeded if the funds were in place.
All schools are being encouraged by the Government to become specialist schools but they need to raise £50,000 first.
Hertswood has a proven strength in the arts field, underlined by its recent award of Artsmark Gold status the highest national award possible for school arts provision by the Arts Council of England.
The school's arts department demonstrated excellence in its curriculum within the school and beyond to attain the award.
Its pursuit of specialist arts school status aims to build on this strength, reflected in the creative nature of the town itself.
If it raises the necessary cash the school will win a £100,000 grant for a dance studio, plans for which are currently being drawn up by architects.
And if granted specialist status, Borehamwood's only secondary school will receive £150,000 in extra funding every year for four years.
Hertfordshire construction firm Fitzpatrick Contractors recently donated £5,000 to the school taking its sponsorship total to £7,000.
Company director Richard Topliss said the firm, which was involved in the school building project, was happy to support the community. "We like to see the school thriving," he said.
Elstree firm McNicholas donated £1,000.
"McNicholas has been part of the Borehamwood community for the last 20 years, and we are always happy to support local community projects," said a company spokesperson.
"We are very grateful to all the sponsors who are investing in the young people of Elstree and Borehamwood," said Mr Stainton.
"But we still have a long way to go and I would appeal for anyone in the community individuals or businesses to support us."
Prospective sponsors should contact Andy Stainton on 020 8238 7202.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article