The 23-year-old scored one goal in 10 games for the Iron last season following a summer move from Gainsborough Trinity.
Waterfall began his career with Tranmere Rovers before stints with lower-league sides Ilkeston Town and Gainsborough.
Scunthorpe earned promotion to the third tier of English football during the 2013-14 campaign thanks to a second-place finish in the table.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Scunthorpe UnitedScunthorpe | 10 | 6 | 3 | 1 | 16 | 5 | 11 | 21 |
| 2 | Curzon AshtonCurzon Ashton | 10 | 6 | 2 | 2 | 12 | 8 | 4 | 20 |
| 3 | Chester FCChester | 10 | 5 | 3 | 2 | 14 | 10 | 4 | 18 |
| 4 | Chorley | 10 | 4 | 5 | 1 | 18 | 12 | 6 | 17 |
| 5 | Alfreton TownAlfreton | 10 | 4 | 5 | 1 | 14 | 9 | 5 | 17 |
| 6 | King's Lynn TownKing's Lynn | 10 | 5 | 2 | 3 | 11 | 11 | 0 | 17 |
| 7 | Leamington FCLeamington | 10 | 4 | 4 | 2 | 15 | 10 | 5 | 16 |
| 8 | Scarborough AthleticScarborough Ath | 10 | 4 | 4 | 2 | 16 | 12 | 4 | 16 |
| 9 | Hereford UnitedHereford | 10 | 3 | 6 | 1 | 14 | 8 | 6 | 15 |
| 10 | Kidderminster HarriersKidderminster | 10 | 4 | 2 | 4 | 14 | 10 | 4 | 14 |
| 11 | Farsley CelticFarsley Celtic | 10 | 4 | 2 | 4 | 13 | 11 | 2 | 14 |
| 12 | Brackley Town | 10 | 4 | 2 | 4 | 11 | 10 | 1 | 14 |
| 13 | Spennymoor TownSpennymoor | 10 | 3 | 4 | 3 | 15 | 12 | 3 | 13 |
| 14 | Darlington | 10 | 3 | 4 | 3 | 9 | 8 | 1 | 13 |
| 15 | South Shields | 10 | 4 | 1 | 5 | 13 | 17 | -4 | 13 |
| 16 | Buxton | 9 | 4 | 0 | 5 | 11 | 10 | 1 | 12 |
| 17 | SouthportSouthport | 10 | 3 | 3 | 4 | 13 | 20 | -7 | 12 |
| 18 | Peterborough SportsP'boro Sports | 10 | 3 | 2 | 5 | 8 | 13 | -5 | 11 |
| 19 | Warrington Town | 10 | 2 | 4 | 4 | 11 | 14 | -3 | 10 |
| 20 | Needham Market | 10 | 3 | 1 | 6 | 8 | 14 | -6 | 10 |
| 21 | Rushall Olympic | 10 | 3 | 0 | 7 | 12 | 17 | -5 | 9 |
| 22 | Marine AFC | 10 | 2 | 3 | 5 | 4 | 12 | -8 | 9 |
| 23 | Oxford CityOxford City | 10 | 1 | 4 | 5 | 13 | 23 | -10 | 7 |
| 24 | RadcliffeRadcliffe | 9 | 0 | 4 | 5 | 12 | 21 | -9 | 4 |
| > National League North Full Table | |||||||||
