Lakeville Boards Adopt $40.6M FY2027 Budget, Cut School Assessment

Select Board · Meeting of May 12, 2026

Lakeville Select Board and Finance Committee adopt a $40.6 million FY2027 operating budget after uncovering a two-decade accounting error in the regional school district's assessment. Both boards initially approved $40,701,609 for the Article 1A override-contingent budget before Town Accountant Mike Ellis explained that Old Colony Regional School District had been improperly rolling its $135,480 debt exclusion payment — tied to a now-retired intermediate school bond — into each successive year's assessment total rather than removing it once the note was paid off in FY2026. The boards rescinded the first vote and approved a revised figure of $40,566,129, with Select Board member Planka dissenting over the school district's overall 9.65 percent assessment increase.

The meeting also approved an $800,000 free-cash draw for a special town meeting article covering a deficit in the Gateway Health Group insurance pool, after the group's broker underestimated claims growth at 8 percent when actual costs rose closer to 25 percent. The annual town meeting is set for June 8 at Ponkapoag Regional High School Auditorium, immediately following a special town meeting; both require a quorum of 100 voters.

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Source: the Select Board meeting of May 12, 2026, reported from the official video recording and transcript.