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Staff review finds Wauwatosa School District likely to finish fiscal year better than budget
Summary
A district staff member told the Wauwatosa School District that, as of May, revenues were about 62% collected, expenses were roughly within 1% of budget, and the district now forecasts finishing $1–2 million better than budgeted despite a $3.1 million budgeted deficit tied to a $3.5 million property-tax chargeback.
A staff member for the Wauwatosa School District presented the district’s May 2026 financial review, saying the district is expected to finish the fiscal year better than budgeted and that most variances are modest.
“We still only receive 62% of our revenues,” the staff member said, explaining that tax receipts and state aid arriving in June through August historically account for the remainder of annual collections. He added, “salaries and benefits are the primary driver there at about 1% favorable.”
The presenter told board members the district’s expense line is close to projections: overall expenses are within about 1% of budget, with very little variance outside salaries and benefits. He called out a negative variance in purchase services tied to an August flooding event but said much of that cost is expected to be recovered through insurance.
On the bottom line, the staff member said the district had a budgeted deficit of about $3.1 million and that $3.5 million of one-time expense related to a property-tax chargeback was included in that calculation. He noted the budget had been written with a budgeted operating surplus of $319,000 but that current forecasts had improved: “we are going to finish better than budget…about a million to 2 million is my forecast right now.”
The presenter displayed a reported positive variance for the month of roughly $2.6 million but described that figure as aggressive and said a conservative estimate would be a $1–2 million favorable finish. If that forecast holds, the staff member said the district would need to draw roughly $1 million from fund balance rather than the previously budgeted $3.1 million; any draw would be replenished through tax collections and the FY26–27 budget process.
The review did not include board motions or votes; it was a financial briefing and forecast update. The district will close the fiscal year in June and incorporate these projections into the FY26–27 budgeting process.
