2024 Sinking Fund Renewal

A sinking fund is a financial tool for our school district. It funds improvements to infrastructure that extend the life of our district’s buildings and grounds. It’s a way to ensure our schools remain safe and functional. There are legal guidelines regarding how the funds can be used and an annual review process to ensure they are being allocated appropriately. 

Renewing the Sinking Fund will provide critical support to the Leslie Public Schools facilities without increasing taxes for residents.  

Sinking Fund 2024 Presentation

What is a Sinking Fund?

• A Sinking Fund is a millage approved by the community and levied to support the maintenance, repair and construction of school buildings. 
• A Sinking Fund does not require a school district to borrow money or pay interest. 
• These funds are used to continue to maintain our facilities and protect the general fund when it comes to keeping our buildings up to date.
• Sinking Funds cannot be used for purchasing teaching supplies or textbooks, paying teacher and administrator salaries.
• The law requires districts with Sinking Funds to keep the funds separate from other district accounts. 
• Sinking Funds receive a separate review each year to ensure they are being spent appropriately. 

Would the renewal of the Sinking Fund increase my taxes above the 2024 levels?

No. We currently levy 2.9649 mills for our sinking fund that was passed in 2016. The proposal would renew the sinking fund at that current level. This would be a ten-year renewal. Your taxes would not be increased above 2024 levels if this proposal passes.

How does this fit with the Board's Plan?

The Leslie Public School Board is committed to maintaining educational facilities without the burden of constructing new buildings. A renewal of our sinking fund would enable us to continue this commitment without increasing taxes above 2024 levels. It would be an investment in our children’s future and the community’s well-being.