How a Sinking Fund Helps Students
On Tuesday, November 5, our community will make an important decision about the future of our school district.
Voters who live within the boundaries of the Hemlock Public School District will determine if our district will establish a dedicated “Sinking Fund” to respond to the long list of major repairs, upgrades, and maintenance issues now challenging portions of our aging facilities.
Unlike building bonds for new construction, voter approved Sinking Funds are used by many districts in Michigan to address their on-going major facility needs, out-of-date technology, and safety upgrades without taking crucial dollars away from classrooms and instruction.
And it is the hope of the HPS School Board – which unanimously voted in August to place the Sinking Fund proposal on the Nov. 5 ballot – that every community member will give thoughtful consideration to creating a similar resource here, as our community has generously supported HPS and excellence in public education since 1863.
In our ever-changing and increasingly-competitive world, we must ensure the education we provide to our children is the best we can reasonably deliver.
Firmly anchored in the foundations of our community’s values and character, our teachers, principals, support staff, parents, adult volunteers, and community partners are helping our students LEAD THE PACK to future success.
You can be proud of what is taking place in our schools – and it’s important we build on our positive momentum.
If approved, the Sinking Fund will provide HPS with an annual source of dedicated revenue to tackle –
• essential technology and safety upgrades,
• school roofs more than 20 years old,
• school windows more than 60 years old,
• unfinished pavement projects,
• improved HVAC systems and energy efficiencies,
• and other major “life cycle” aging facility issues.
The annual cost for homeowners of the requested 1.5 mill levy for 10 years looks like this:
$125,000 home value = $62,500 taxable SEV = $ 93.75 yr. / $7.81 mo.
$150,000 home value = $75,000 taxable SEV = $112.50 yr. / $9.38 mo.
$175,000 home value = $87,500 taxable SEV = $131.25 yr. / $10.94 mo.
$200,000 home value = $100,000 taxable SEV = $150.00 yr. / $12.50 mo.
Approval of the Sinking Fund proposal on November 5 will enable HSP to effectively respond to its major repairs and aging facility challenges WHILE PRESERVING resources which should remain invested in the educational programs that will HELP OUR KIDS WIN THE RACE for many years to come.