The Holmen Village Board took care of end-of-the-year budget matters as well as action on funding next year’s budget at its Dec. 14 meeting.
The village adopted a balanced budget of $6,323,391 for 2018 at a Nov. 9 public hearing. Property owners in the village will be providing slightly more than $3 million of the amount needed to cover expenses to provide services to its residents.
The 2017 levy, which will fund the 2018 fiscal year, has been set at $3,206,104. The mill rate of 21.5572 will mean taxpayers with property values assessed at $200,000 will pay $4,311.44 in 2018. The rate is down marginally from 21.8224 for the 2016 levy.
The village’s portion of property taxes paid for the 2018 budget is 24 percent of the tax bill. Other entities receiving allocations from property taxes collected by the village are La Crosse County, the School District of Holmen and Western Technical College.
Since a change in the Act 59 law passed earlier this year, the state will no longer be among in the entities receiving property tax allocations.
The amount in expenditures anticipated for 2018 is $4,360,531 less than this year’s total of $10,683,922. Major spending in this year’s budget included the construction of a new library and reconstruction of Holmen Drive.
With the 2018 budget set to go, the police and parks and recreation departments submitted requests for vehicle purchases. The police department received approval to purchase and outfit two new squad cars at $60,000 each.
The Parks and Recreation Department also received approval for new equipment purchases of a pickup, a snow plow and salter/sander equipment.
The HVB passed a resolution approving changes to this year’s budget to mesh unanticipated revenues with actual expenditures.
Among the figures on the plus side are savings resulting from the library construction coming in under budget. Another is an environmental impact fee received from American Transmission Company for the Badger Coulee line that’s designated for recreational purposes. The village also received unanticipated revenues from the sale of land bordering a retention basin that wasn’t needed for stormwater containment.
Cost overruns for the Holmen and Hale drives construction project were $1,509,487. A number of the unanticipated expenses were to upgrade utility infrastructure such as sewer lines. However, the village did see $1,062,186 in unanticipated income from tax increment district #3. TIF#3 has had significant development in 2017, including a new Festival Foods store, mini-malls and other construction.
Donations for the new library collected so far total $167,310. In approving the $4.5 million project, the village board approved financing the library’s construction through a combination of borrowing and donations amounting to $1 million from individuals and other supporters.
Other proceeds in the 2017 budget reconciliation came from refinancing 2017A bonds and short term borrowing for 2017 capital outlay that came in under budget.