Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Forecast topic
No spam. Unsubscribe anytime.
Shorewood budget presentation warns of longer-term gaps; district to convene enrollment task force
Summary
Business director Heather Hevlin presented the 2025–26 operating budget, reported a healthy fund-balance projection but said longer-term forecasts still point to multi‑million-dollar gaps without an operating referendum; the district will form a community task force to examine enrollment and configuration options.
Heather Hevlin, Shorewood’s director of business services, presented the district’s proposed 2025–26 operating budget and five-year outlook, describing current fund-balance targets, the district’s revenue mix and options to address projected shortfalls.
"Our target is 25 to 35%" for fund balance, Hevlin said, adding that the district projected ending fund balance of 38% this year and expects about 40% for 2025–26. She explained the operational purpose of fund balance: "We get most of our revenue from property tax...we need cash on hand because revenues lag and we have payroll and other obligations."
Hevlin said the proposed operating budget is just under $31 million and that salaries ($17.6 million) and benefits ($7.1 million) are the largest expense lines. She reported that about 64% of general operating revenue is expected from property taxes and roughly 26% from state funds, and presented a preliminary mill rate estimate of 10.98 for 2025–26 (down from about 11.3), noting final mill rates depend on state-certified property values.
On long-term forecasts, Hevlin said the district still faces potential deficits in later years without an operating referendum (which funds about $5.5 million per year). "Without the operating funds...deficits could be as much as $6–7 million in the second year," she said, and recommended continued attention to capital funding, healthcare-cost strategies and operational efficiencies.
To examine structural options, the district will convene a community task force to review enrollment projections and scenarios — including potential consolidation or increased open enrollment — and to recommend configurations that align instructional models with projected enrollment and finances.
Why it matters: the presentation framed near-term stability (strong fund balance) alongside medium-term risk (forecasted gaps) and outlined concrete next steps — task-force work, targeted capital set-asides and pursuit of diverse revenue streams — that will shape future budget choices and any referendum planning.
Officials said the business office will publish final levy and mill rate numbers after state certification, and the board will continue community engagement as modeling and task-force work progress.
