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Financial Transparency

Understanding Public School Finance in Iowa:
As the eighth largest school district in the state of Iowa, Waterloo Community Schools maintains a budget of over $200 million.  We recognize our responsibility to be both fiscally responsible and accountable in managing the resources entrusted to us. Through thoughtful stewardship, we aim to provide the necessary funding and support to ensure high-quality instruction across all areas. Our priority is to ensure that every student is equipped with the tools, support, and diverse experiences required to graduate with a diploma and a plan.

The Basics of School Funding

  • In Iowa, the funding for our school district is primarily based on student enrollment numbers. While the state provides funding based on this enrollment, there are restrictions on how much local revenue can be raised beyond state-provided funding.
  • Annually, the Iowa Legislature establishes the District’s general fund budget growth rate.  This is called the supplemental state aid percentage.
  • A district’s property tax rate is primarily set by the school aid formula. There are only limited steps a school district can take to increase or decrease the property tax rate.
  • In school finance, certain funds are designated for specific purposes. Each tax levy is assigned a limited function, and the general fund is specifically intended for supporting the educational program. While it may seem illogical that we might have enough funds to pave a parking lot or purchase equipment, but not enough to hire additional teachers—or vice versa—this is due to the way state law allocates and restricts the use of these funds.
  • Schools are a labor-intensive business: about 80 percent of a district’s General Fund is made up of staff salary costs and benefits.

 

ReviewofFundsFY25-261.pdf
ReviewofFundsFY25-261 (PDF)

Definitions of School Funds

Budget Planning and Certified Budget Process:
The budgeting process is a fluid and flexible exercise that is monitored, analyzed and considered all year long. The formal budget certification process begins in the fall of each year with the official student enrollment count based on students in attendance on the first school day in October. Student enrollment and cost per pupil (supplemental state aid established annually by the State legislature) are the two main factors that determine the budget spending authority provided to the school district for the entire fiscal year.  After a series of public hearings, an Iowa public school district’s budget certification process concludes each year on April 30.

Financial Documents Available for Download