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Holmen projects $985,000 general-fund shortfall; special-education payments prorated at 35%
Summary
Executive Director Julie Hullman told the Holmen board the revised 2025–26 general-fund revenue is $57,134,364 and expenditures $58,120,286, producing an estimated deficit of about $985,000; special-education reimbursement has been paid at about 35%, increasing the districts interfund transfer obligation.
Holmen School District staff presented third-quarter budget revisions April 13 that show a modest projected General Fund shortfall and a continuing special-education reimbursement proration that affects the districts transfer needs.
Executive Director of Finance and Operations Julie Hullman said the district now estimates general-fund revenue of $57,134,364 and general-fund expenditures of $58,120,286, producing a plan deficit near $985,000. Hullman said the revised revenue figure includes about $117,000 in state project grant funding for implementation of a K2D12 literacy program that was not in the October budget.
"A budget is a financial hypothesis and things do change throughout the year," Hullman told the board while walking through the revisions.
On special education, Hullman said the district has been receiving prorated aid at roughly 35% of eligible costs; as a result, the projected interfund transfer from the general fund to the special-education fund is now about $6,886,874 (down from last year's final transfer of $7,442,000). The district estimates the special-education fund revenue and expense at about $1,338,179 in the current year.
Hullman also said the capital projects fund was reduced by about $1.4 million because some construction-phase expenses (for example, a middle-school roof component) will not be completed until the next fiscal year. The district estimates an overall June 30, 2026 general-fund balance of roughly $14,040,000 (about 24% of general-fund expenditures) and said $1.4 million of that will be restricted or committed fund balance.
Why it matters: The projected deficit and prorated special-education aid affect short-term cash flow and planning, especially because final state decisions could change the district's expected aid and transfers before the fiscal year end.
Next steps: Hullman said these changes will be included in the April 27 consent agenda. Board members also noted that the district's operational referendum passed with 60% voter approval, which staff said will affect future budget planning but does not retroactively alter current-year proration.
