The Colonial School District Board of Directors approved the 2023-24 budget at the May 25, 2023 meeting, establishing a spending plan that will enable the District to maintain its rigorous instructional program while also limiting the impact to taxpayers.
The $151,153,201 budget will result in a 2.56-percent tax increase, which is well below the Act 1 index (tax cap set by the state) of 4.1 percent. For a homeowner with the median assessed value of $152,850, this would result in an additional $95.46 in taxes. Colonial maintains one of the lowest tax rates in Montgomery County.
The budget includes five new teaching positions to address increasing enrollment. Expenditures for the 2023-24 school year are 4.1 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, healthcare contributions, special education mandates, and charter school tuition.
For budget documentation, please click on the "Budget Information" link on the left.