Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance And Policy topic
No spam. Unsubscribe anytime.
Board reviews financials, approves grants, donations and a tobacco-free policy
Summary
Trustees reported a February tax advance that produced roughly $2 million and year-to-date surpluses, approved grants and donations including a pending $40,000 security grant request, and adopted a revised tobacco-free policy to meet state health guidance.
The Waterloo Local Board of Education reviewed February financials showing a tax advance that nearly $2 million and produced surpluses across funds, approved several grants and donations, and adopted policy changes intended to improve compliance with state health guidance.
Treasurer reported that February’s tax advance produced nearly $2 million in receipts and produced month and year-to-date surpluses; the treasurer noted a February surplus in the emergency fund of about $1.3 million and year-to-date all-funds surplus figures discussed during the report. Trustees also noted miscellaneous expense outliers (roughly $18,000 in fuel and $23,000 in track supplies) and reported a $70,000 auxiliary state payment that flows through the district for services to St. Joseph.
On grants and donations, the board approved a listed grant of $3,629.12 and accepted donations including $1,000 to the theater/drama program from the Magador VFW Charity Foundation and $1,200+ in supplies for the elementary school from SNAP. The superintendent said the district submitted a $40,000 project-based grant request to enhance security (stadium cameras, up to 20 computers and door replacements); that $40,000 request will appear on a future agenda for approval if awarded.
The board also adopted a rewritten tobacco-free policy intended to improve the district’s grade from the Ohio Department of Health; the policy adoption passed by roll call. Trustees approved other routine agreements including a power contract, Summit ESC preschool consortium participation and a one-year Spark internet services contract (Spark passed with one abstention).
Why it matters: The tax advance materially improved short-term cash flows; grant and donation approvals support programming without drawing general-fund dollars. The tobacco-free policy seeks to align district policy with state health expectations.
What’s next: The district will bring the pending $40,000 grant back on a future agenda if the award is confirmed and continue to monitor fund balances in monthly financial reports.
