2024 Sinking Fund

A sinking fund operates on a "pay as you use" basis, funded by local voters, providing school districts with cash reserves for timely repairs and upgrades. By handling infrastructure maintenance directly, it avoids interest costs on loans or bonds, ultimately safeguarding taxpayer investments by covering school repair and maintenance expenses as they arise.

Yes. The current sinking fund, approved in 2019 for five years, generates approximately $680,000 annually and was originally set at 3.0 mills but reduced to 2.83 mills due to the Headlee Amendment rollback. The district is now asking voters to restore it to the original 3.0 mills.

The funds from the sinking fund offer a means to enhance security, undertake building repairs or construction, and acquire technology without impacting the district's regular operations. In cases of unexpected failures like roofs or septic fields, having these funds available for repairs alleviates any strain on the general fund.  In short, it keeps the general fund dollars in the classroom, instead of the boiler room. 

The property tax rate in Michigan is referred to as a millage, and it's figured in mills. One mill is equal to 1/1,000 of a dollar. Or, more simply, for every $1,000 in taxable value, a property owner will pay $1 in property tax. Taxable value in Michigan is generally half of the actual value of the home, so a $200,000 home with a $100,000 taxable value would pay $25 per month.

• Employee Salaries or benefits
• Books and Curriculum
• Consumable Supplies
• Preventative or routine Maintenance

• Buses
• Building upgrades and repairs
• Site improvements
• Security upgrades
• Instructional technology 

The Byron Area Schools 3.0 millage sinking fund will be used for safety and security upgrades, as well as electrical and plumbing upgrades.

There is language required by law to be on the ballot for a sinking fund proposal.  Byron Area Schools does NOT have plans currently to purchase real estate or construct school buildings with the sinking fund.  This levy is being proposed to support infrastructure repair and improvements to the district's existing school buildings and grounds.

Complete information on the voting process, including clerk office and polling locations, registering to vote and absentee ballots can be found here at https://mvic.sos.state.mi.us/