From left, Lakewood Village Trustee John Shedd, Trustee Ellen Barnes, Mayor Randy Holcomb, Trustee Ben Troche, and Trustee Scott Cooper Thursday as they look over the modified village spending plan.

LAKEWOOD – Finally.

After weeks of crunching numbers, the Lakewood Board of Trustees adopted its 2026-2027 budget.

In March, Mayor Randy Holcomb said the proposed $5,822,633 spending plan was considered an “all-in” budget. The mayor noted that estimated revenues were $3,021,838 and the tax levy (amount to be raised by taxes) would be $2,900,795. The estimated tax rate would be $6.46 which decreased $3.46 from the 2025-2026 tax rate of $9.93.

Trustees were set to adopt the budget on April 27, but some trustees were not comfortable with the numbers, so they asked village department heads (police, public works, fire) to try to trim more from their budgets.

The department heads succeeded.

Up against a budget adoption deadline, in the 11th hour, and at a special meeting, trustees revealed Thursday the modified spending plan.

The budget now stands at $5,698,161 with the tax levy at $2,748,323, and the tax rate being $6.12. The estimated revenues are $3,049,838.

“Appreciate the work that you guys have done to take a tight budget and tighten up anymore,” Trustee Scott Cooper said to Police Chief Matthew Bentley, DPW Supervisor Chris Certo, and Fire Chief Kurt Hallberg. “I know it’s taken a lot of work in a short period of time, and we do appreciate your efforts.”

Trustee Ellen Barnes agreed.

“You have been very responsible,” said to the trio. “The money is what the money is. And I can’t change the fact that our assessments doubled, and everything is more expensive. So the tightening of the belt comes with it to try to reduce the tax burden.”

Trustee John Shedd that the spending plan is very responsible.

“I think that the budget that has been put before us, which, thank you guys that was really a lot of work. We appreciate it. I think it was a responsible budget in the first place, and I think this is even more responsible. I don’t want the village to have decreased services, especially when it comes to safety and security and fire,” Shedd.

Mayor Randy Holcomb also thanked Bentley, Certo, and Hallberg.

“Thank you all of you for going through it (the budget) once again trying to trim what we can,” Holcomb said.

In the 2025 tax year, the town of Busti conducted a town-wide revaluation, the first full town reassessment since 2014.

Over time, the value of property changes, depending on sales, condition, location, etc. Some values change more rapidly than others. Reassessment is the only way to be sure that all property is being assessed fairly and similarly to comparable properties. So, village residents may have seen their property values change.

Trustee Ben Troche said a lot of work went into presenting, and then modifying the adopted spending plan.

“I want to say thank you to Mrs. (Apryl) Troutman, our clerk/treasurer, who put in countless hours, and the department heads and the other trustees,” Troche said.

Troche noted that with trying times, trustees were able to collaborate and cut the budget significantly.

“We had a budget that was increased very, very minimally – around $50,000,” Troche said. “We had department heads cut their own budget compared to last year already, and they were able to put pen to paper and cut some more.

Village resident Laura Smith commended the board for making budget cuts.

“There are so many municipalities and cities in this state that are in huge financial trouble,” Smith added. “And it pleases me beyond words to see the village, and you showed me today that you’re willing to lead from the front, do the hard work, and say the hard things. For you folks to honestly come back with genuine cuts, I’m impressed.”