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Colonial SD reports strong local revenues and transfer tax gains; expenditures at 59.6% of budget through February
Summary
District financial staff reported 87% of revenues collected on a $158.17 million budget and $2.9 million in transfer tax receipts so far this year, with total expenditures at about $94 million (59.55% of budget). Staff noted continued pressure on professional services (special education contracted aids) and cited savings from recent refinancing.
Colonial School District finance staff reported to the finance committee on March 3 that local revenues remain strong through February in the 2024‑25 fiscal year and that transfer tax collections have been higher than the prior year.
Staff said the district had collected approximately 87% of its $158,174,694 budgeted revenues and reported actual revenues of about $137.6 million to…
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