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.
What the Sinking Fund has done for us: