Potterville Public Schools is asking voters to approve a 1-mill sinking fund for 10 years. The district would raise approximately $126,000 annually from 2018 to 2027, based on current property values.
The proposal will be on the Nov. 6 general election ballot. If approved, homeowners with a $50,000 taxable value would pay an additional $50 a year.
A Sinking Fund millage is levied on all property located in the school district. Schools can utilize the revenue to pay for projects or repairs that arise. Sinking Funds provide districts with a more cost effective alternative to borrowing through bonds. Sinking Funds do not require interest costs or legal fees. Sinking Funds are audited annually by an independent auditor. All funds received through a Sinking Fund millage are restricted and can only be spent for specific purposes.
Potterville Schools plans to utilize the funds for safety and security improvements for the elementary, middle school/high school and child care. All three buildings would receive upgraded security cameras, automated locks, updated locks on classrooms and possibly a panic button system.
Instructional technology will be purchased to sustain and increase students’ accessibility to technology. All technology purchased will be placed in the hands of our students.
“All of this is intended to provide a physically and emotionally safe learning environment for all of our students and staff,” said Superintendent Kevin Robydek. “Our intention is to ask our community for what we need in terms of the dollar amount. The administration believes that 1 mill will address what it feels are overdue upgrades to security and instructional technology. Feel free to give me a call if you have questions 517-645-2662.”
The official ballot language states:
Shall the limitation on the amount of taxes which may be assessed against all property in Potterville Public Schools, Eaton County, Michigan, be increased by and the Board of Education be authorized to levy not to exceed 1 mill ($1.00 on each $1,000 of taxable valuation) for a period of 10 years, 2018 to 2027, inclusive, to create a sinking fund for school security improvements and for the acquisition or upgrading of technology and all other purposes authorized by law; the estimate of the revenue the school district will collect if the millage is approved and levied in 2018 is approximately $126,000.
More information about the sinking fund proposal can be found at Potterville Central Administration office, 420 North High Street in Potterville or at City Hall, located at 319 North Nelson Street.
Article submitted by Potterville Public Schools.