What are the tax implications of a sinking fund?

380.1212 Sinking fund; creation; purpose; tax levy; audit; submission of proposition to school electors; election; ballot; approval; definitions. Sec. 1212. (1) ... 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. Sinking Fund · Definition: A dedicated fund used to repay bond debt and other long-term obligations. Funded through a property tax levy approved by voters. 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 ... Sinking Fund. Thank You. Lake Orion Community Schools voters approved the Building and Site Sinking Fund in August 2016, providing a dedicated source of funding ... Jul 23, 2024 ... A sinking fund simply means money put aside over time for a particular purpose, like a big bill. By having sinking funds set up, I didn't have to worry about ... Sinking Fund · Numbered Letter 2023-1 – Bonded Construction Fund and Sinking Fund Audits · MCL 380.1212 Sinking Funds · Bulletin 7 Audits of Bonds and Sinking ... Jan 17, 2024 ... It is used to pay for maintenance and replacement of common property items such as lifts, balconies, parking spaces and exterior areas of ... FIN-3.24 - Waterfront Renewal Bond Sinking Fund - Fund 303. Binding City Policies (BCP). Policy category. Fund Statements of Purpose. Policy number. FIN-3.24. Jul 11, 2023 ... The idea is you set aside money each money so that when the known expense arrives, you have money to flow to it without impacting your cash flow ...