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Treasurer warns of fund‑balance dip as board adopts five‑year forecast
Summary
The board approved a five‑year fiscal forecast that assumes a significant reappraisal and benefit‑cost increases; the treasurer warned the fund balance may dip by FY 2029 and recommended monitoring cash flow, tax advances and enrollment assumptions.
The Waterloo Board of Education adopted a five‑year forecast after the treasurer reviewed assumptions and cautionary scenarios.
The treasurer said he used a 30% reappraisal assumption (not yet certified) and included a 2.75% salary increase through 2027 and a 12% health‑insurance premium increase in early planning. He noted the district receives roughly $700,000 from a state 'guarantee' tied to the funding formula and that revenue timing (tax advances) will affect cash balances through winter months.
The treasurer pointed to line‑item outliers in October — a $62,000 payment to Johnson Controls (to be reimbursed by insurance), a $21,000 fuel expense and nearly $16,000 in OT/PT services — and said those timing and payment patterns contribute to short‑term cash variability. He said the forecast shows a projected fund balance decline through FY '29 under conservative assumptions and recommended continued monitoring.
Board members commended the treasurer’s presentation and approved the forecast by roll call. The treasurer said he will update the board as reappraisal figures are certified and as tax advances arrive.
