What specific disclosures are required in the financial statements regarding a sinking fund?

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. Jul 12, 2020 ... A sinking fund is just a bank account that I create for a specific purpose. I create a sinking fund when I know I have a large expense coming up ... 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 ... Dec 6, 2022 ... My question is about how to handle the monthly movements from Checking to my Sinking Fund (Savings account). GHAPS tax year 2023 Debt Millage rate is 2.29. In tax year 2025, the Debt Millage rate will be 0.00. If approved, the .70 Sinking Fund Millage rate would be the ... Key Takeaways · A sinking fund is maintained by companies for bond issues, and is money set aside or saved to pay off a debt or bond. · Bonds issued with ... In Michigan, a Sinking Fund is levied to fund school safety improvements, technology improvements, and the repair and construction of school buildings. Oct 7, 2022 ... These funds guarantee dollars for facility improvements, protecting the investment the community has made in the district. This Sinking Fund ... Dec 7, 2024 ... A sinking fund is a dedicated savings account for planned future expenses that you know will occur, but aren't included in your monthly budget. 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 ...