Board approves preliminary 2024–25 budget after presentation of revenues and projects

The Three Lakes School District Board of Education voted Aug. 21 to approve a preliminary 2024–25 budget following a detailed review of revenues, transfers and projected expenditures.

Caleb, who presented the preliminary figures, said the district closed 2023–24 with about a $430,000 gain in the general fund (Fund 10) and is projecting roughly $11,879,400 in total revenues for 2024–25, down about $350,000 from the prior year because COVID-era ESSER funds have ended. He told the board that the district’s property valuation increased substantially in recent months — the packet showed a district valuation of 2,565,611,506 and a Baird projection of about 16.7% — producing a drop in the mill rate from $4.60 to $3.98.

Caleb highlighted pressures on specific funds: Fund 50 (food service) carries a roughly $45,000 deficit that the administration plans to address over the coming year; Fund 27 (special education) is closely tied to Fund 10 through required transfers, and the budget includes a roughly $121,000 increase in special-education salaries and related benefits. He also noted planned capital work and repositioning of student-activity accounts into Fund 21.

Chair moved approval of the preliminary budget as presented; the motion passed with unanimous 'aye' votes. Board members and staff said the figures are preliminary while the audit is completed and that the board will approve a final budget at the district’s annual meeting in October.

The administration will bring back a more detailed, finalized budget in October for official adoption.