The Waterloo School Board hosted a public hearing before its monthly meeting to review this year’s school district budget before they approved it.
Superintendent Brian Charron talked about how the district can’t rely much on the state to provide the full amount of aid money.
“The state has caught up on the timeliness of their payments, so we’re anticipating this budget to be prorated at 89 percent of what state aid should be,” Charron said.
Charron said that on the expenditure side of the budget, around 90 percent are known expenses.
The estimated fund balance for June 30, 2015 is $8,747,823. That includes $2,339,033 in the educational fund, $3,728,583 for operations and maintenance, $698,342 and $1,981,865 in working cash.
Overspending is occurring in the educational fund, operations and maintenance and transportation.
There is a difference of $521,862 in the educational fund, but Charron reminded the attendees and board that, “We need to find a way to reduce our spending by $521,000 and get our budget in line,” Charron said.
A total of $5.9 million was put into operations and maintenance out of the $14.9 million reimbursement the district got in capital development board money.
Though there is a $2.2 million gap between revenues and expenditures in the operations and maintenance fund, Charron said $1.9 million of that is CDB money.
“That $5.9 million was put in last fiscal year, so now we’re spending some of that money,” he said.
The budget, though unbalanced, does not require a deficit reduction plan.
“We’re going to have to be responsible in finding ways to get our budget balanced,” Charron said.
Also at the board meeting:
•The board approved the hire of Sarah Paulissen as a full-time special education paraprofessional for the 2014-15 school year.
•The board approved Matt Mason as the new WHS head softball coach.