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Board reviews FY25 budget revision and approves FY26 proposal; district expects Impact Aid B2 status
Summary
The board approved the FY25 year‑end revisions and moved forward with a FY26 budget that plans for salary increases, capital spending near $55.7 million, and anticipates continued B2 Impact Aid eligibility pending federal confirmation.
Mr. Harrison, a district staff member, presented the fiscal‑year 2025 budget revision and the FY26 proposed budget to the Waynesville R‑VI Board of Education; the board approved both items during the meeting.
For the FY25 revision, administration recommended adjustments to enact revenue and expenditure account totals and make necessary transfers to close the fiscal year ending June 30, 2025; the board approved the recommendation by voice vote after a motion from Mr. Anderson. Mr. Harrison noted state revenue increased in FY25 because the state adequacy target (SAT) rose from 6,375 to 6,760 and confirmed the district maintained B2 eligibility for FY25.
On the FY26 proposal, Mr. Harrison outlined budgeting goals tied to the district’s CSIP, including maintaining competitive salaries and prudent reserves (target undesignated operating fund balance 25–30% of annual operating expenditures). The proposed FY26 budget projects an operating beginning balance near $24.5 million and—accounting for capital projects—shows a total beginning balance of roughly $107.6 million and an ending balance near $57.7 million. From an operational standpoint the district projected a modest surplus of about $130,000 for FY26. Capital project expenditures were budgeted at approximately $55.7 million for FY26, with listed projects including Liberty Elementary, the admin building renovation, WHS HVAC upgrades, auditorium AV/lighting work and Partridge electric upgrades.
Mr. Harrison described revenue assumptions: an anticipated increase in local assessed valuation, the state SAT increase planned to 7,145 for FY26 (noting the district would remain cautious), and conservative federal revenue estimates to reflect enrollment trends and Impact Aid timing variability. He said the district expects B2 Impact Aid eligibility for FY26 pending final federal approval and that passage of Proposition 2 will extend B2 eligibility once implemented. The FY26 budget includes salary and benefit increases (classified and certified 3% increases, added steps for certified bachelor's column, summer school pay increases and transportation salary normalization); salary and benefits account for roughly 76% of operating expenditures.
The administration recommended approval of the FY26 budget as presented; Mr. Quinn moved the motion and the board approved it by voice vote.
