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Lakeville board adopts FY2027 budget, highlights $11.2 million levy renewal and saves discussion of board pay for later
Summary
The Lakeville Public School District approved its FY2027 budget and a schedule of operating-levy renewals that together fund roughly 10% of district operations. Directors debated a proposed boost to school-board pay but withdrew the amendment for further study.
The Lakeville Public School District board on June 23 approved its fiscal year 2027 budget and a multi-year operating-levy schedule that district staff said generates roughly $24–25 million annually, about 10% of the district’s roughly $220 million general-fund operation.
Director Holmgren presented the final budget, projecting a small increase in the district’s unassigned fund balance to about 8.5% by June 2027 and outlining revenue assumptions including a 2.68% change in the state formula allowance and an almost $5 million increase in property-tax receipts tied to levy adjustments. Holmgren noted one large operating-levy renewal due next year that currently generates about $11.2 million for the district.
Why it matters: Operating levies and referendum renewals provide the district with flexibility above state funding and pay for locally determined services and programs, staff said. Holmgren told the board the aggregate operating-levy total supports technology, program enhancements and ongoing operations that the state formula does not fully cover.
Board members pressed staff on reserves and levy choices. Holmgren said the district’s general-fund balance is projected to rise toward the board’s policy target range (7.5%–10%), giving the district about $19.2 million in unassigned reserves next year while noting that fund balances should not be used for recurring costs.
The meeting also featured a proposal from Director Ryan Thompson to raise board compensation from the current level to $10,000 annually and index future increases to state funding. Several board members questioned the timing and size of the increase, noting recent staff contract settlements and urging additional benchmarking with comparable districts. Thompson withdrew the amendment after discussion and the board agreed to study the matter at a work session.
The board approved the FY2027 budget as presented by a 7–0 vote. Director Holmgren said staff will return with any technical revisions and further analysis requested by board members.
What’s next: The district will prepare the final published budget documents and public materials explaining the upcoming levy renewals and timelines for voter consideration if referenda are required.
