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Holmen School District estimates $14.16 million general-fund balance, total funds about $25.2 million; reserves fall below policy range
Summary
Executive Director Julie Holman told the board the district’s preliminary June 30, 2026 general-fund estimate is $14,164,901 (about 24.3% of expenditures), below the board policy target range of 26.3–28.9%. Total all funds were estimated at roughly $25.2 million; specific fund balances and the timing of tax receipts were explained.
The Holmen School District presented a preliminary fund-balance designation for June 30, 2026 and told the board the estimates will be finalized after the year-end audit.
Julie Holman, executive director of finance and operations, said the district’s estimated general-fund balance is $14,164,901, which she said represents about 24.3% of the expenditure budget — slightly under the board’s policy range of 26.3% to 28.9%.
Holman broke down the general fund estimate into standard GASB 54 categories: sinking fund (restricted spendable) just under $1.2 million, committed post-employment obligations about $300,000, assigned for summer payroll and benefits roughly $8.9 million, and unassigned about $3.8 million.
Holman said other fund estimates include a gifts/scholarship (fund 21) balance of about $1.3 million, debt-service (fund 39) about $4.5 million, capital projects (fund 40 combining funds 42 and 46) about $3.6 million (roughly $2.8 million construction, ~$800,000 in the long-term capital-improvement trust), food service about $1.3–1.4 million, and community service about $239,000. She reported total all funds at approximately $25.2 million.
Holman cautioned that these are estimates pending audit and that fund-balance is an accounting snapshot (assets less liabilities) rather than available cash. She noted the timing of levy receipts (January, February, August) and called attention to roughly $5.9 million in tax-levy proceeds expected after certification.
Board members did not pull this item; Holman’s presentation was placed on the consent agenda for formal approval at the July 13 meeting.
Next steps: the final fund-balance figures will be confirmed by the district’s fiscal-year audit and presented after reconciliation.
