An audit has determined that the Waterloo School District has a deficit of $6.8 million, according to KWWL. Superintendent Dr. Jared Smith says that the district overspent to make sure they met the needs of the students. He went on to say that while they are receiving increased per-student funding from the state, operational costs have gone up and have offset the benefits of increased funding. The district’s revenue has averaged $154 million each year since 2021. In that same time its expenditures have gone up from $142 million to $173 million. Smith says there is a three year plan in place to balance the budget by the 2027-28 school year. Layoffs are likely a part of that plan.
