Sinking Fund
What is a Sinking Fund?
A sinking fund is a voter-approved property tax that a school district can use for specific purposes—mainly building repairs, renovations, and site improvements.
Unlike a bond, a sinking fund does not create debt or require interest payments. Instead, it provides a steady, pay-as-you-go source of revenue for maintaining and improving school facilities.
What Can a Sinking Fund Be Used For?
State law strictly limits sinking fund expenditures. Common allowable uses include:
- Repairing or replacing roofs, boilers, windows, and doors
- Updating heating, ventilation, and air conditioning (HVAC) systems
- Improving safety and security systems
- Upgrading playgrounds, athletic facilities, and parking lots
- Technology infrastructure that is directly tied to facilities
What Can a Sinking Fund NOT Be Used For?
By law, sinking fund dollars cannot be used for:
- Teacher or staff salaries
- Classroom supplies
- Textbooks or instructional materials
- General operating expenses
Why is a Sinking Fund Important?
A sinking fund allows the district to maintain safe, functional, and efficient learning environments without diverting money from classroom instruction. It also helps avoid taking on long-term debt for routine building needs.
How is a Sinking Fund Collected?
When voters approve a sinking fund, the district collects a small property tax (expressed in “mills”) each year for a set number of years. Funds are collected annually and spent only on projects allowed by law.
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Project Yearly Cost Total Cost of Project High School Boiler Project $358,425.31 Repaired Roofs $9,510.00 TOTAL SPENT $367,935.31 -
Project Yearly Cost Total Cost of Project High School Boiler Project $210,028.35 $568,453.66 Repaired Roofs $10,100.00 Security Doors $5,000.00 Flooring Replacement $5,050.22 Lockwood Windows and Blinds $26,080.00 Union St. Installed Roof Drains $9,390.00 Track Resurface $16,497.50 GIS Roof Replacement $160,030.00 TOTAL SPENT $442,176.40 -
Project Yearly Cost Total Cost of Project Flooring Replacement $6,084.00 Replaced Hot Water Heaters $22,514.62 Pool Repairs $27,739.35 Baseball & Softball Safety Net $7,761.00 GIS Roof Replacement $154,770.00 TOTAL SPENT $218,868.97 -
Project Yearly Cost Total Cost of Project Flooring Replacement $2,204.00 Lockwood Roof Replacement $307,600.00 Union St. Windows & Blinds $32,360.00 Soccer Field Dugouts $3,314.71 Replaced Catch Basins $4,995.00 Safety Fencing $16,480.00 HS Partial Roof Replacement $66,140.00 Parking Lot Repairs $11,625.00 Water Fountain Replacements $26,112.40 TOTAL SPENT $470,831.11 -
Project Yearly Cost Total Cost of Project Flooring Replacement $9,223.00 High School Gym Floor $29,778.70 GIS Boiler Replacement $24,307.00 Door Replacement $11,200.00 HS Partial Roof Replacement $84,555.00 $150,695.00 Parking Lot Repairs $245,801.27 $257,426.27 TOTAL SPENT $404,864.97 -
Projects Yearly Cost Total Cost of Project Flooring Replacement $6,320.92 Track Resurface $16,497.50 $32,995.00 GIS Boiler Replacement $353,002.62 Roof Repairs $18,705.00 AC Mini Splits $5,832.91 Baseball Field Redo $10,990.00 Parking Lot Repairs $7,264.40 TOTAL SPENT $418,613.35 -
Projects Yearly Cost Total Cost of Project Replaced Hot Water Heaters $6,758.94 GIS Boiler Replacement $382,654.38 Roof Repairs $18,705.00 High School Track $1,065.87 Footbal Field New Lights $472,934.44 Parking Lot Repairs $3,734.97 TOTAL SPENT $895,853.60
Prioritizing the Educational Needs of our Future Generations
The sinking fund monies are essential for ensuring that our schools have the necessary resources to provide a high-quality education to all students. This fund directly supports crucial infrastructure improvements, such as repairing and maintaining our facilities, upgrading technology, and enhancing safety measures, which ultimately contribute to a better learning environment. By maintaining this funding, our community can invest in the future of our children and ensure that they have access to modern educational tools and safe spaces to learn and grow.
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