I agree that K-12 schools have been used for all sorts of reasons beyond academics, and a quick look at your list proves it. You believe schools should be providing "physical, social and psychological" services to our children. In my opinion, you are not describing an institution whose purpose is education. You are describing an institution which supplants parents in the task of raising their children. And that, in my opinion, is why a school's function should be limited to academics. A public school should not take the place of parents, and we should not be paying billions of dollars so it can do so.
Now, I agree that private schools - in their efforts to develop "well-rounded individuals - include sports, arts and social activities. If parents want to delegate those functions to private schools and pay the tuition associated with it, well, that's fine by me. That is an individual economic choice made by parents.
But here, you are asking public schools to take over the role of parents for long periods of each day, and you want the general public to pay for it. But many taxpayers do not have children, and many more have no children of school age. While having an educated populace is a worthy endeavor that should be supported by all taxpayers, I cannot justify forcing the general public to pay for my daughter's cheer program, or your son's football program.