Is there a specific way the money in a sinking fund must be used?

The Byron Area Schools 3.0 millage sinking fund will be used for safety and security upgrades, as well as electrical and plumbing upgrades. What is a Sinking Fund? A Sinking Fund allows a school district to make improvements for specific purposes, as allowed by the state. If approved, it would allow ... Apr 25, 2025 ... A sinking fund helps you avoid developing a reliance on credit when you want to make a purchase but can't currently afford it. Nov 21, 2023 ... Reserve funds are more all-purpose and act as a safety net for unanticipated circumstances or emergencies, whereas sinking funds are designated ... Sinking Fund Updates. The vote passed in November of 2018 for a 10-Year Sinking Fund. The estimated tax levy value would generate $2.3M per year and yield $23M ... Sinking Fund. A sinking fund is a way to pay back money borrowed through a bond issue by making regular payments to a trustee who retires part of the issue by ... In Michigan, a Sinking Fund is levied to fund school safety improvements, technology improvements, and the repair and construction of school buildings. Sinking Fund. Sinking fund Yearly Projects Outline. Sinking Fund_Completed Project List (pdf) Download. Copyright © 2024 Mason Consolidated Schools - All ... On November 5th, voters will have the opportunity to consider a ballot measure to renew our "sinking fund" for an additional 10 years. This fund provides an ... A sinking fund is for the expenses you know are coming in the next few months. Think of it as saving for planned future expenses.