What is the precise definition of a sinking fund in accounting terms?

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. 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. There shall be created a sinking fund, which shall be sufficient to pay the accruing interest on such debt, and, annually, to reduce the principal thereof. 2022 Sinking Fund Proposal Important Facts · Election Date: November 8, 2022 · Not to exceed 1 mill to levy on all properties in the Wayne-Westland Community ... Mar 19, 2023 ... Sinking funds are a type of bond provision which requires the issuer to set aside a specific amount of money on a regular basis to repay the ... Water, Light & Sinking Fund Commission. The Water, Light & Sinking Fund Commission oversees the operations of Dalton Utilities which provides a wide range of ... A sinking fund is a “pay as you go” system which is generated by local voters. It provides school districts with funds to pay cash for repairs and improvements ... Jun 2, 2023 ... What is a sinking fund? A sinking fund is a pot of money created by setting aside money regularly to pay for planned yearly expenses. Sinking ... A sinking fund is an amount of money which is set aside to cover any major work which is needed on a property in the future. Oct 30, 2023 ... A sinking fund is simply a savings account that you use to save for an expense that you know you will need to pay for in the future.