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Finance committee previews budget, potential bond refinance and IU assessment; several items to be referred to full board
Summary
Finance staff presented a preliminary 2025'26 budget review, a proposal to pursue a potential refunding of the district's 2017 general obligation bonds and routine items to be referred to the full board (MCIU assessment and spring musical approvals).
The district's finance representative presented a multi'part update to the committee on Feb. 10 covering the Montgomery County Intermediate Unit (MCIU) budget, spring extracurricular approvals, a potential refinancing of the 2017 general obligation bonds and the draft 2025'26 budget outlook.
Montgomery County Intermediate Unit assessment: The committee was informed that the IU's projected budget for 2025'26 is $2,107,175, a 0.2% increase from the prior year. Colonial School District's required share was listed as $96,548, an increase of about 4% or $3,862. The presenter said the item will move to the full board agenda for approval.
Spring musicals and activity fund: Committee members reviewed plans for the Colonial Middle School and Plymouth-Whitemarsh High School musicals and related extracurricular duty contracts and contractor approvals. Presenters explained that activity funds, ticket sales and fundraising historically cover production costs and that the…
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