The Waterloo Community School District Board of Education is scheduled to meet at 5:00 p.m. on August 24 at the Education Service Center, 1516 Washington Street in Waterloo. The agenda includes major financing actions tied to the One High School Project, preschool partnerships, an FFA travel request, a workers’ compensation letter of credit, and routine consent-agenda business.
Key Items on the Agenda
One High School Project Financing
The board is scheduled to consider a series of resolutions advancing financing for the One High School Project. The packet centers on approximately $64.5 million in School Infrastructure Sales, Services and Use Tax Revenue Bond Anticipation Project Notes, Series 2026.
The proposed notes would provide interim financing for school infrastructure work that includes converting the Central Middle School building into a high school, constructing additions, remodeling the building and improving the site. Financing documents also identify tennis courts and a practice/soccer field as part of the broader project.
The board is scheduled to consider:
- A resolution fixing the date of sale for approximately $64.5 million in Series 2026 bond anticipation project notes and approving a preliminary official statement.
- A resolution establishing parameters for the sale and delegating authority to accept and award it.
- Proposed sale parameters allowing a maximum principal amount of $77.78 million and a maximum true interest cost of 4.10%.
- A proposed schedule under which approximately $64.5 million in notes would be offered for sale on or about September 2, 2026 and issued and dated September 28, 2026.
- A financing structure intended to use future School Infrastructure Sales, Services and Use Tax revenue bonds to provide permanent financing and retire the interim notes.
The agenda narrative says the district intends to dedicate projected SAVE surplus through June 30, 2032 toward the One High School Project. The preliminary official statement describes the notes as special limited obligations rather than general obligations backed by the district’s full faith, credit and taxing power.
Proposed Redemption of 2020 SAVE Bonds
A separate resolution would authorize the future redemption of a portion of the district’s outstanding 2020 School Infrastructure Sales, Services and Use Tax Revenue Bonds. The packet describes this as part of the financing strategy for the One High School Project following changes in Iowa law that redirect a portion of SAVE revenue to property tax relief.
The proposed resolution covers $11.085 million in outstanding principal scheduled for maturities from 2030 through 2035. If the resolution is adopted and its funding conditions are met, those bonds would be called for redemption on July 1, 2029.
The packet says the strategy is intended to reduce future SAVE debt obligations, strengthen debt-service coverage, help maintain the district’s bond rating and provide greater flexibility for restructuring One High School Project financing.
Preschool Partnerships
The consent agenda includes proposed 2026-2027 Iowa Voluntary Preschool Program contracts with community early-childhood providers.
The packet identifies renewed arrangements with Small World Preschool, Immanuel Lutheran Preschool and A to Z Early Childhood Center, along with a new partnership with the YWCA.
- Small World Preschool: The proposed contract identifies 14 students and a maximum of $54,152, based on funding of up to $3,868 per student.
- Immanuel Lutheran Preschool: The proposed contract identifies 32 students and a maximum of $123,776, also based on funding of up to $3,868 per student.
- A to Z: The proposed itinerant-services contract identifies 20 students and a maximum of $42,120, based on reimbursement of up to $19.50 per half-day unit per student.
- YWCA: The new partnership is designed for up to 20 eligible four-year-old students, with the district providing a certified itinerant early-childhood teacher on site.
The YWCA agreement describes 2026-2027 as the partnership’s start-up year and states that future SWVPP funding is not guaranteed. The district would also provide student lunches at $4.44 per meal, with meal charges based on documented meals served.
Other Financial Items
Workers’ Compensation Letter of Credit
The board is scheduled to consider renewing and increasing the district’s self-insured workers’ compensation letter of credit with Farmers State Bank from $1.73 million to $1.94 million.
The district moved to a partially self-insured workers’ compensation model beginning in 2024 as a way to realize premium savings. The letter of credit serves as secondary reserve or collateral for claims under the program and currently expires September 1, 2026.
The packet says the district does not anticipate drawing on the letter of credit because workers’ compensation premiums and claims are budgeted and paid through the Management Fund.
Leader in Me
The consent agenda includes a recommendation to continue the district’s memorandum of understanding for Leader in Me at a total cost of $58,952.50 for the 2026-2027 school year.
Waterloo Schools has partnered with Leader in Me since 2010. The packet says the program is implemented at Fred Becker, Irving, Kingsley, Kittrell, Lincoln, Lou Henry, Lowell, Orange, Poyner, Bunger, Hoover and Expo/Waterloo Career Center.
Leader Valley offsets a portion of program costs. Most participating schools are billed at a district reimbursement level of $5,000, while schools beginning the process in 2022-2023 or later have a $5,100 annual membership fee.
Student Programs and Opportunities
National FFA Convention Travel
The board is scheduled to consider approving out-of-state travel for Waterloo Career Center Agri-Science instructor Hunter Hamilton and WCC students to attend National FFA convention activities in Indianapolis.
The agenda lists travel for October 20-23, 2026. The proposed itinerary includes convention sessions and agricultural or educational stops, with departure from Waterloo Career Center on October 20 and a planned return on October 23.
The request is connected to development of the district’s new FFA chapter. Board policies 604.3 and 604.3-R require board approval for student activities involving both out-of-state travel and an overnight stay.
The agenda says expenses will be paid through the FFA account and students will be responsible for additional expenses. A supporting recommendation letter provides additional detail, stating that advisor expenses would be paid through Perkins and student expenses through the FFA account.
Consent Agenda
The superintendent recommends approval of a consent agenda containing six items:
- Minutes from the August 10, 2026 regular board meeting and August 13, 2026 special board meeting.
- Personnel appointments and adjustments.
- Bills due and payable and bills paid between board meetings.
- Iowa Voluntary Preschool contracts for 2026-2027.
- The $58,952.50 Leader in Me agreement for 2026-2027.
- Appointment of the 2026-2027 School Improvement Advisory Committee.
The bills item includes authorization of warrants for district goods and services. Supporting material lists $318,347.44 in electronic vendor payments, including $127,066.58 to MidAmerican Energy, $93,114.47 to Delta Dental, $83,133.15 for a BMO procurement-card payment and $6,000 for Pitney Bowes postage.
School Improvement Advisory Committee
The proposed School Improvement Advisory Committee would meet during the 2026-2027 school year and make recommendations to the board and district administration.
Its stated areas of work include major educational needs, student learning goals, long-range and annual improvement goals, desired student performance levels and student belongingness. The packet says membership includes representation from teachers, students, administrators, parents, community members and the Board of Education.
Personnel and Governance
Personnel Appointments and Adjustments
Routine personnel matters are included on the consent agenda. The supporting personnel report contains certified and classified appointments, coaching assignments, changes of assignment, leaves, resignations and a termination.
Because the personnel package is presented as a recommended consent item, the listed changes should not be treated as board-approved actions unless and until the board acts on the consent agenda.
Employee Separation Agreement
The board also has a separate agenda item for discussion and potential action on an employee separation agreement. The packet does not provide substantive terms of the proposed agreement, so no further details are supported by the materials.
The meeting agenda includes an information-only recognition honoring Bev Boveia for 56 years of service connected with Waterloo Schools.
The packet says Boveia began her teaching career in 1970, retired from teaching in 2010 and continued serving on the district’s Policy Review Committee. She is stepping down from that committee after more than 30 years of service.
The agenda also provides opportunities for information from individuals and delegations, a superintendent’s report and information from board members.
What to Watch at the Meeting
The most consequential decisions are likely to center on the One High School Project financing. The board is being asked to advance approximately $64.5 million in interim financing, establish sale parameters and consider a related $11.085 million future redemption of 2020 SAVE bonds.
Other items with direct program or financial implications include the community preschool agreements, the $58,952.50 Leader in Me agreement, the increase of the workers’ compensation letter of credit to $1.94 million, and the proposed FFA convention travel.
The district calendar included with the agenda identifies August 24 as the first day of school for grades K, 1, 2, 6 and 9, followed by the first day for grades 3, 4, 5, 7, 8, 10, 11 and 12 on August 25. The next regular board meetings listed in the packet are September 14 and September 28 at 5:00 p.m..
