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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:

  • Matthew A. Jacobs, Chairperson
  • Tanya Kerns, Vice-Chairperson
  • Dawn Green
  • Susan Jones
  • Molly Keohane
  • Debra Sharrow

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.

Want to Attend In Person?

The Financial Oversight Committee meeting is currently being held via Zoom.

If you have an interest to attend in person, please notify our Chief Financial Officer, Emily Falcon at 302-323-2729 or emily.falcon@colonial.k12.de.us.

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 pm.  You can attend a meeting currently be held via Zoom to get more information or contact our Chief Financial Officer, Emily Falcon at 302-323-2729 or emily.falcon@colonial.k12.de.us.
Click the button below to download, complete & submit the Financial Oversight Committee – Interest Form.

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


In March 2021 President Biden signed the America Rescue Plan (ARP) in response to the pandemic, with $122 billion appropriated to the Elementary and Secondary School Emergency Relief (ESSER) fund. The Colonial School District received $30,671,394. All funds must be spent by September 2024. Colonial’s plan for the ESSER funds impacts every building, every employee group and every department.

Learn more at http://www.colonialschooldistrict.org/coronavirus-information/esser-funding/ 


Senate Bill 56 of the 151st General Assembly codified the Opportunity Fund, an additional source of education funding for Delaware public schools intended to support the increased needs of low income and English learner students, and established the parameters for how the funding is to be distributed and the usages reported. Epilogue language in the annual appropriations Act provides further parameters regarding usage and allocation.

Learn more at http://www.colonialschooldistrict.org/wp-content/uploads/2022/12/Copy-of-FY23-Oppt-Fund-Application_Colonial.pdf

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:

Tax Warrant

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

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 2024

Fiscal Year 2023

Fiscal Year 2022

Fiscal Year 2021

Fiscal Year 2020

Fiscal Year 2019

Fiscal Year 2018

Fiscal Year 2017