Waterloo Local board approves FY26 appropriations and reviews year‑to‑date finances

The Waterloo Local Board of Education approved permanent appropriations for fiscal year 2026 and a series of routine financial measures intended to keep operations running while final grant awards are confirmed.

Treasurer Scott presented the district’s year‑to‑date financial picture: while the general emergency fund showed a deficit approaching $950,000, the district reported an overall surplus of roughly $900,000 across all funds year‑to‑date. Revenue highlights included approximately $19,000 in interest and a near $90,000 Medicaid FY23 settlement; significant May expenses included payroll (~$500,000) and insurance (~$150,000). The board approved the May financials and then moved to adopt permanent FY26 appropriations so the district can begin the new fiscal year; the treasurer noted grant-funded items will be finalized in the fall and the incoming treasurer can make adjustments.

To avoid last‑minute meetings, the board authorized the treasurer to perform transfers, advances, and appropriation adjustments between the June and July meetings, to be ratified at the July meeting. The board also approved listed appropriation modifications at the fund level and accepted the June 30 cash summary report.

Why it matters: Appropriations determine legal spending limits for the next fiscal year. The reported emergency fund deficit and the larger overall surplus reflect timing and fund‑level differences that district leaders said will be monitored and adjusted.

Vote and next steps: All motions in this section passed by roll call. The treasurer will continue to monitor cash flow, finalize permanent appropriation numbers for grants once they are known, and report any transfers at the July meeting for board ratification.