Hartland Consolidated Schools will place a sinking fund renewal proposal on the ballot in November.
The HCS Board of Education voted June 15 to place the renewal on the ballot Nov. 3.
The proposal was previously discussed in May. Sinking funds, also known as building and site funds, are used to cover capital projects. Unlike bond proposals, which generate large sums of money quickly, sinking funds generate smaller amounts on an annual basis.
Voters previously approved a 10-year, 0.5-mill sinking fund in May 2017, which expires in December, according to Superintendent Chuck Hughes. The fund generates, annually, about $900,000.
The levy has been reduced by 0.0237 mills through rollbacks under the Headlee Amendment, a state provision that automates millage rollbacks when property values rise faster than the rate of inflation.
HCS has used sinking fund dollars for heating/cooling system upgrades and repairs, paving, signage, pool improvements, site improvements, and interior and exterior door replacements, according to a document provided by the district.
Hughes previously said, when the sinking fund passed in 2017, it couldn’t be used to purchase technology or buses — but legislation changes have since allowed those uses.
HCS is also considering a future bond proposal, which wouldn’t appear on the ballot until at least November 2027. Voters approved a $45 million bond in August 2020.
Learn more at hartlandschools.us/sinking-fund.
— Contact reporter Evan Sasiela at esasiela@livingstondaily.com. Follow him on X @SalsaEvan.
This article originally appeared on Livingston Daily: Hartland Schools to place sinking fund renewal on ballot in November
Reporting by Evan Sasiela, Livingston Daily / Livingston Daily
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By Evan Sasiela, Livingston Daily | USA TODAY Network
