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Financials

Agenda

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
  • Susan Jones
  • Becky Reed
  • Leon Wilson IV

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 Chief Financial Officer, Emily Falcon at 302-323-2729 or emily.falcon@colonial.k12.de.us. 

Click here to join

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

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 after the Department of Education certifies the September 30th unit count.  The final budget is approved by the Board of Education in December or January of the fiscal year.

Final Budgets:

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:

Previous Monthly Reports

Tax Warrant

Annually, by the second Thursday in July, the Board of Education approves the annual tax rate.

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.

Fiscal Year 2020

Fiscal Year 2019

Fiscal Year 2018

Fiscal Year 2017

Previous Fiscal Year Reports