Waterloo School Board OKs budget - Republic-Times | News

Waterloo School Board OKs budget

By on September 20, 2017 at 2:55 pm

Waterloo schools will now have an idea of the revenues they will receive for the 2017-18 school year after the school board passed a budget Monday night.

The district estimates it will operate on a deficit of $434,032 for the year, with deficits in both the education fund ($68,087)  and the operations and maintenance fund ($597,909). The transportation fund shows a surplus of $13,065.

The budget also shows the estimated fund balance at the end of the fiscal year, which comes out to $7,459,584. A public hearing during the board meeting began with Waterloo school superintendent Brian Charron explaining the nuances of the budget. 

In explaining revenues and expenses projected, Charron said the district has planned for the worst case scenario.

“That is our best guess at a (worst case scenario) of what our fund balances will be as of June 30, 2018,” he said while pointing to line 81 of the budget. “We think we will do better.”

He also explained that the school district does not need a deficit reduction plan because direct revenues are not less than direct expenditures by an amount greater than or equal to one-third of the ending fund balance…>>>

Read the rest of this story in the September 20 issue of the Republic-Times.

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Sean McGowan

Sean is a die-hard Cubs fan, despite the relentless peer pressure coming from the rest of the Republic-Times staff. He and his wife, Jacqui, have been married for two years. Originally from the west suburbs of Chicago, Sean and his wife moved down to Normal to attend Illinois State University and stayed central Illinois residents for the past four years. email:sean@republictimes.net