Financials
In June of 2010, the district formed a Citizen Financial Oversight Committee in accordance with Title XIV Del. C. 1508. The purpose of the Committee is to oversee the financial position of the district and the Committee is given access to financial documents and information.
The Committee consists of seven committee members as approved by the Board of Education.
The current members are:
- Karen Ross, Chairperson
- Matthew A. Jacobs, Secretary
- Dawn Green
- Lee Jarmon
- Susan Jones
- Chris Piecuch
- Becky Reed
The Committee meets on the first Tuesday of each month to review the monthly Budget Variance Report and other financial reports before submission to the Board of Education for approval.
We need your Help!
Do you have a knack for numbers? Interested in learning more about education funding? Colonial is looking for volunteers to serve on our Citizen Finance Oversight Committee! Members attend a monthly meeting to review and discuss the district’s financial information and provide recommendations and input to the district and board of education. Meetings are the first Tuesday of each month at 5:30 in the Administration building. You can attend a meeting to get more information or contact our Business Director Emily Falcon at 302-323-2729 or emily.falcon@colonial.k12.de.us.
Annual Budget
The district administration and Financial Oversight Committee present a preliminary budget to the Board of Education in July of each year. The district operates under the preliminary budget until a final budget is approved
Final Budgets:
- Fiscal Year 2018 – (budget presentation here)
Fiscal Year 2017Fiscal Year 2016Fiscal Year 2015Fiscal Year 2014Fiscal Year 2013Fiscal Year 2012Fiscal Year 2011Fiscal Year 2010
Preliminary Budgets:
Monthly Budget Reports
The district administration and Financial Oversight Committee present a monthly Budget Variance Report to the Board of Education for its approval at each monthly Board meeting.
The Monthly Budget Reports for the month of:
- October 2018 |
- September 2018 | Budget Variance
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
Previous Monthly Reports
Tax Warrant
Annually, by the second Thursday in July, the Board of Education approves the annual tax rate.
- Tax Warrant 2019
- Tax Warrant 2018
- Tax Warrant 2017
- Tax Warrant 2016
- Tax Warrant 2015
- Tax Warrant 2014
On June 4, 2013, tax payers approved a 35 cent increase on the operating portion of the tax rate. The rate for 2014 is $1.706 per $100 of assessed property value. An increase of 38 cents as compared to 2013.
Financial Position Reports
School districts in Delaware are required to prepare financial position reports 3 times annually. The purpose of the reports is to project the district’s cash balance to ensure financial stability.
Previous Fiscal Year Reports
Helpful Information:
Senior Citizens – Make sure you apply for the Property Tax rebate program. Click here for details on the New Castle County website.
Transparency of District Finances (as required by House Substitute 1 for House Bill 119) – This resource will provide you with financial data related to the State’s purchase of goods and services, as well as reimbursements. As you browse the online checkbook, you will be able to view payment information by state agency or school district, expenditure category, or vendor. This data will be updated on a quarterly basis and available to you all year round with the click of a button.
State of Delaware – Open Checkbook
Delaware Department of Education – Education Statistics Reporting
Glossary of Budget Terms