budget pie charts for expenditures and revenues

The Colonial School District Board of Directors approved the 2022-23 budget at the June 16 meeting, establishing a spending plan that will enable the District to maintain its rigorous instructional program while also limiting the impact to taxpayers.

The Board approved the use of $1 million from the District’s fund balance to reduce the deficit and tax increase. The $145,200,767 budget will result in a 1.67-percent tax increase. For a homeowner with the median assessed value of $153,780, this would result in an additional $61.51 in taxes. Colonial maintains one of the lowest tax rates in Montgomery County.

The budget includes three new teaching positions, two administrative positions, three security positions, and one support staff position to support increasing enrollment and enhance school safety. 

Expenditures for the 2022-23 school year are 3.08 percent higher than last year, with inflation and rising student enrollment driving some of that increase. Other factors affecting the rise in costs include collective bargaining agreement obligations, retirement and healthcare contributions, special education mandates, and charter school tuition. 

Moving forward, the Board and administration will be considering the impact of the state’s budget (which had not been approved at the time of this document’s printing), an anticipated reduction in federal funds, the economy and the effect of inflation and supply chain issues, as well as real estate values. For budget documentation, please click on the "Budget Information" link on the left.