The annual meeting for the Lake Holcombe School District will be held in the Elementary IMC on Monday, October 23rd, 2023 at 6:00PM. The annual meeting is an opportunity for the electors of the school district to participate in the process of approving a budget for the operation of their local school district. The following is an overview of how the budget has come together for the 2023-24 school year. Budget books are available in the school office or on the district’s website at www.lakeholcombe.k12.wi.us. Please feel free to contact me with any questions you may have.
The 2023 general fund revenue limit for the Lake Holcombe School District is $3,875,100. This includes a three year $875,000 non-recurring referendum to exceed revenue limits. This is the second year of the existing referendum to exceed revenue limits. We certainly appreciate the support of the electors. In seven of the last thirteen years there was a $0 increase in the revenue limit. In the last two year biennium state budget there was $0 increase in the revenue limit per student. This year we are finally able to raise our per member revenue limit to $11,000 per student. This $556.62 increase per student certainly helps but it does not account for all of the inflationary increases in expenses that school districts have endured the last thirteen years let alone the last two years. The community service fund levy is proposed to be $75,000. The October 15 certified amount of state aid is projected at $91,637. This is down from the 2022-23 state aid amount of $107,808. The mill rate for tax year 2023 is projected to be $5.69 per thousand. The owner of a $100,000 house will pay $569 in school taxes. This is down from 2022 when the school tax/mill rate was $6.83. The October 1 equalized value of the Lake Holcombe School District is $693,061,140. This is up from the October 2022 equalized value which was $583,773,743. The budget serves as a management tool to guide and direct the financial operations of the school district. There certainly will be changes to revenues and expenses as the year progresses.
The district continues to be vibrant and successful. As of March 2023 the district is debt free as we paid off the last payment on the unfunded pension liability loan. We have welcomed several new staff this year who are excited to be a Lake Holcombe team member. Our head count of students in the building is up from last September. Last spring two large competitive grants were written and funded. A $400,000/ five year after school program grant and a $200,000/two summer school program grant. We continue to use our capital improvement fund (Fund 46) to complete deferred maintenance projects. We are planning another roof replacement for next summer. A new clock, bell, PA, and phone system was installed this summer. More building and infrastructure projects are planned for this year.
The students and staff of the Lake Holcombe School District appreciate the continued support from the electors of the Lake Holcombe School District.