Holmen School Board designates roughly $45.8 million in fund balances for fiscal uses

Executive Director of Finance and Operations Julie Holman presented the district's estimated June 30, 2025 fund balance and the board approved the designations as part of the consent agenda on June 23.

The fund balance classification matters because it identifies which portions of district equity are restricted, committed or available for operations and helps ensure the district can meet summer payroll and bond obligations before state aid arrives in September.

Julie Holman told the board that the presentation and numbers reflect “our best projection at this time” and that the classification follows Governmental Accounting Standards Board Statement 54. She explained that fund balance is a June 30 snapshot that represents assets minus liabilities and is not equivalent to a cash-on-hand figure.

Holmen’s projected general fund estimates included an unassigned balance of about $5,600,000 and a total general fund (Fund 10) estimate near $15,900,000. Holman identified roughly $1,200,000 in restricted sinking-fund balances designated for facilities or technology as previously set by operational referenda, and committed reserves for post-employment obligations (HRA, longevity and sick-leave payouts). She said assigned funds are reserved to cover payroll and benefits through the summer because the district’s first state aid payments do not arrive until September.

Holman also presented estimates for other funds: debt service at about $5,360,000; capital projects (Fund 42) just over $20,000,000; the long-term capital improvement trust (Fund 46) at about $791,000 (a fund the district has not drawn from in five years); the school nutrition account (Fund 50) at about $1,841,000; and community service (Fund 80) at about $218,000. She summarized total all-funds estimated fund balance at approximately $45,800,000.

Board members did not ask questions on the item and the fund-balance designation was included in the consent agenda the board approved by voice vote. Holman noted the figures will be reconciled after year-end activity and fourth-quarter revisions and that the estimates reflect both receivables (including taxes and anticipated state and federal reimbursements) and outstanding liabilities.

The board will receive updated reconciliations and any revised figures after year-end close; the designation approved on June 23 sets the district’s classification of reserves for financial reporting and short-term operational planning.