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Waterloo Local reports December operating loss; board approves December financial statements
Summary
Treasurer reported a December loss of roughly $450,000 and an all-funds year-to-date deficit near $577,000 after bond payments; the board approved the December financial statements and discussed outlier expenses and expected reimbursements.
The district's treasurer presented December financial highlights and the board approved the December 2024 financial statements by roll call.
The treasurer said December for the general and emergency funds showed "a loss of about 450,000," and that year-to-date all funds show a deficit of about $577,000 after bond payments were made in November. The treasurer identified expense outliers: a $25,000 upgrade to the fuel-management system, about $23,000 to Southway Fence Company (track-related work), and a $12,453 payment to Ohio Bureau of Workers' Compensation for annual workers' comp. He said the district expects reimbursement from the foundation for some costs and that some of the timing affects the reported monthly results.
Board members approved the minutes and the financial statements; the treasurer indicated January reporting will include further updates and reimbursements expected to appear in future statements.
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