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:
- 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.
Future Meeting Dates & Agendas
(posted one week prior to meeting date) :
CFOC Meeting Minutes
11/5/2024
10/1/2024
9/3/2024
8/6/2024
7/2/2024
6/4/2024
4/30/2024 (for May 2024)
4/2/2024
3/5/2024
2/6/2024
1/2/2024
12/6/2023
11/7/2023
10/3/2023
9/5/2023
8/1/2023
7/5/2023
6/6/2023
5/2/2023
4/4/2023
3/7/2023
1/31/2023
1/3/2023
12/6/2022
11/2/2022
10/4/2022
9/6/2022
8/9/2022
7/5/2022
6/7/2022
5/3/2022
4/5/2022
3/1/2022
2/1/2022
1/4/2022
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!
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
ESSER
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/
OPPORTUNITY 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: FY24 Opportunity Expenditures Report
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:
- Fiscal Year 2024 & budget presentation
- Fiscal Year 2023 & budget presentation
- Fiscal Year 2022 & budget presentation
- Fiscal Year 2021 & budget presentation
- Fiscal Year 2020 & budget presentation
- Fiscal Year 2019 & budget presentation
- Fiscal Year 2018 & budget presentation
- Fiscal Year 2017 & budget presentation
Preliminary Budgets:
- Preliminary Budget FY25 & presentation
- Preliminary Budget FY24 & presentation
- Preliminary Budget FY23 & presentation
- Preliminary Budget FY22 & presentation
- Preliminary Budget FY21 & presentation
- Preliminary Budget FY20 & presentation
- Preliminary Budget FY19 & presentation
- Preliminary Budget FY18 & presentation
- Preliminary Budget FY17
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:
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
Previous Monthly Reports
Previous Monthly Reports
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
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