Elk Mound school district reviews $14.67 million budget at annual meeting
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By LeAnn R. Ralph
ELK MOUND — Electors in the Elk Mound school district reviewed a projected revenue and expenditure budget of $14.67 million for the 2024-2025 school year at the district’s annual meeting August 19.
The projected budget for this year of $14,673,652 compares to last year’s budget of $15,122,104, representing a decrease for this year of $448,452.
According to notes included with the annual meeting documents, the overall expenditures and revenues for this fiscal year will decrease due to the Elementary and Secondary School Emergency Relief (ESSER) dollars being spent the last three years and the construction projects being completed.
The beginning fund balance for 2024-2025 for Fund 21 (gifts and donations) is $263,509.
The beginning balance for Fund 27 (special education) is zero. Special education funds must always zero out.
The projected 2024-2025 budget for Fund 27 indicates a transfer of $1 million from Fund 10 to Fund 27 and $960,500 in other receipts.
After receiving funds from other sources, school districts are required to make up the difference for the cost of the special education program with money from the school district’s general fund.
Fund 30 (debt service long term) lists total revenue of $1,052,091 for the 2024-2025 school year and total expenditures of $1,344,891.
Fund 46 (long term capital improvement trust fund) has a beginning fund balance of $3,761,818.
Fund 49 (capital projects fund) has a beginning balance of zero.
Fund 50 (food service) has a beginning balance of $386,994.
Fund 73 (employee benefit fund) has a beginning balance of $2,742,057.
The projected property tax for the 2024-2025 is $3,141,511.
The budget and property tax levy will remain projected until the school district receives notification in October for the amount of state aid that will be received.
The Board of Education is required to set the property tax levy on or before November 1.
Enrollment
The Elk Mound school district is anticipating that the number of students open enrolling into the district will be more than the open enrolled students going to other school districts.
Early childhood is expected to have five students who are Elk Mound residents with no students open enrolling in and no students opening enrolling out.
Pre-school is expected to have 41 students who are Elk Mound residents, with 16 students open enrolling in, for a total of 57 students. Two students are expected to open enroll out of the district.
Kindergarten is expected to have 49 students who are Elk Mound residents, with 15 students open enrolling in, for a total of 64 students. Three students are expected to open enroll out of the district.
First grade is expected to have 48 students who are Elk Mound residents and 31 students who open enroll in, for a total of 79 students. One student is expected to open enroll out of the district.
Second grade is expected to have 67 students who are Elk Mound residents and 21 students open enrolling in, for a total of 88 students. Two students are expected to open enroll out.
Third grade is expected to have 66 students who are Elk Mound residents and 15 students who are open enrolled into the district for a total of 81 students. Four students are expected to open enroll out of the district.
Fourth grade is expected to have 62 students who are Elk Mound residents, with 19 students open enrolling into the district for a total of 81 students. Four students are expected to open enroll out of the district,
Mound View Elementary is expected to have 338 students who are Elk Mound residents and 117 students who have opened enrolled into the district, for a total of 455 students.
Sixteen elementary students are expected to open enroll out of the district.
Middle school
Fifth grade is expected to have 73 students who are Elk Mound residents, and 16 students are expected to open enroll into the district, for a total of 89 students. One student is expected to open enroll out of the district.
Sixth grade is expected to have 77 students who are Elk Mound residents, and 21 students are expected to open enroll into the district, for a total of 98 students. Six students are expected to open enroll out.
Seventh grade is expected to have 81 students who are Elk Mound residents, and 21 students who are open enrolling into the district, for a total of 102 students. Three students are expected to open enroll out.
Eighth grade is expected to have 75 students who are Elk Mound residents, and 19 students who have open enrolled into the district, for a total of 94 students. Three students are expected to open enroll out.
Elk Mound Middle School is expected to have 306 students who are Elk Mound residents, and 77 students who are open enrolled into the district, for a total of 383.
Thirteen students all together are expected to open enroll out of the district.
High school
Ninth grade at Elk Mound High School is expected to have 69 students are Elk Mound residents, and 14 students are expected to open enroll in, for a total of 83 students. Six Elk Mound students are expected to open enroll out of the district.
Tenth grade at Elk Mound High School is expected to have 82 students who are Elk Mound residents, and 21 students are expected to open enroll into the district, for a total of 103 students. Eight students are expected to open enroll out of the district.
Eleventh grade is expected to have 76 students who are Elk Mound residents, and 16 students are expected to open enroll in, for a total of 92 students. Five students are expected to open enroll out.
Twelfth grade is expected to have 70 students who are Elk Mound residents, and 11 students are expected to open enroll into the district, for a total of 81 students. Eleven students are expected to open enroll out.
Elk Mound High School is expected to have a total of 297 students who are Elk Mound residents, and 62 students are expected to open enroll into the district, for a total of 359 students. Thirty students are expected to open enroll out of the district.
The Elk Mound school district is expected to have a total of 941 students who are Elk Mound residents, and 256 students are expected to open enroll into the district, for a total of 1,197 students.
All together, 59 students are expected to open enroll out of the school district.
Debt
The Elk Mound school district currently has outstanding debt of $15,960,000.
Outstanding debt includes $960,000 out of $3,345,000 for the 2010 construction project. The interest rate is .34 percent.
Outstanding debt also includes $9,570,000 out of $9,570,000 for the 2020 referendum refunding notes. The interest rate is 2.11 percent.
The last part of the outstanding debt is $5,430,000 out of $6,130,000 for the 2020 referendum general obligation promissory notes. The interest rate is 1.54 percent.
Property tax
The total property tax projection for the 2024-2025 school year of $3,141,511 includes $2,271,600 for the general fund and $869,911 for referendum-approved debt service.
The projected gross levy represents an increase of $50,562.
The projected mill rate for 2024-2025 of $4.82 per $1,000 of property value compares to a mill rate of $5.32 per $1,000 of property value last year.
The projected equalized value of $651.3 million for the school district, representing an increase of 12 percent, compares to the equalized value for 2023-2024 of $581.55 million.
