Board Reviews District’s 5 Year Financial Forecast

Board Members reviewed the district’s five-year financial forecast at the October 10 Board of Education Meeting. Gary Sinclair with Forecast5 led the discussion.

Forecast5 is a financial planning program that allows interaction with a full spectrum of assumptions in order to project a district’s financial position. These projections are made by analyzing years of historical Annual Financial Report data and analysis of the district’s current budget and projections for revenue and expense variables.

Waukee Community School District has been using this technology for the last five years to make informed decisions regarding staffing levels, compensation packages and contract negotiations.

Overall, Waukee Community School District is in great financial health, due largely to the disciplined focus and conservative assumptions that the Board has embraced in past years. The district will continue to look at ways to reduce future expenses to maintain a balanced budget, knowing that the annual surplus/deficit could reach an uncomfortable negative balance by 2021.

No formal action was necessary by the Board for this agenda item.

To view the full presentation click here.