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Waynesville R-VI board approves revised FY25 budget, projects $29.6M in capital spending
Summary
Board approved a FY25 budget revision that preserves a roughly 30% operating reserve and increases projected capital spending for Liberty Elementary and WHS HVAC work; state funding increases largely drive revenue growth.
The Waynesville R-VI Board of Education on Monday approved a revision to the district's fiscal year 2025 budget that preserves roughly a 30% operating reserve and increases projected capital outlays for ongoing facility projects.
Administration presented the revision during the meeting, saying the district expects to end FY25 with about $24.5 million in operating funds (approximately a 30.2% reserve) and to spend about $29.6 million on capital projects by June 30, 2025. The budget was approved by a motion from Mr. Anderson and seconded by Mr. Harn; the board approved the motion by show of hands.
The revision reflects several revenue shifts, including an increase in state aid tied to the state's student adequacy target (SAT). The administration noted the SAT rose from $6,375 in FY24 to $6,760 in FY25, which contributed to projected state revenues of about $40.4 million. Local revenues include property and Proposition C receipts and investment earnings; the presenter cautioned those items may fluctuate with interest rates and the economy.
On expenditures, district leaders said salaries and benefits account for roughly 82% of operating spending (about $50 million), while purchase services and supplies make up the remainder. Capital spending is driven by three major projects named in the presentation: the Liberty Elementary project, the Waynesville High School HVAC project, and an administration building renovation.
Officials also reviewed federal impact aid, which the presentation described as variable; the district said it budgets conservatively for those receipts.
Why it matters: the revision keeps the district's operating reserve near its target while advancing several large construction and HVAC priorities. Board members asked no substantive follow-up questions during the presentation; the administration said it will continue updating the board as revenue and project timing evolve.
The board approved the revised FY25 budget by voice vote. Administration noted work remains on capital schedules and on tracking actual impact aid receipts.
