What has happened with the Sinking Fund that the voters passed in May 2017? Why isn’t that enough money to fund these infrastructure improvements?
A Sinking Fund is a millage levied in Michigan dedicated to support the repair and construction of school buildings. The Sinking Fund is a pay-as-you-go method for building repairs and projects. The district does not pay interest on the money used. All of the work that is paid by sinking funds must be competitively bid and contracted. None of the sinking funds can be paid to employees. Here are some examples of what the sinking fund can pay for:
- Boilers to heat buildings
- Paving of parking lot
- Building system replacements such as HVAC and plumbing
- Accessibility needs as per the Americans with Disabilities Act
Sinking funds cannot be used to pay for instructional programs or salaries.
Work accomplished with AAPS Sinking Funds from 2017 through summer 2019 includes:
Roofing $ 4,642,000 Paving $ 5,443,000 Additions $10,905,000 Renovations $ 5,173,000 Playgrounds $ 2,746,000 Athletics $ 4,638,000 Water Quality $ 1,200,000 Other Repairs $ 22,404,000 TOTAL $ 57,151,000
School bond proceeds can fund major capital investment in our schools, which we would utilize to support program and curriculum, to prepare for increased enrollment and to provide equity among buildings.
Work accomplished with 2015 Bond Funds through summer 2019 includes:
Replacement of Bus Fleet $10,400,000 New Classroom Furniture $10,900,000 Security and Safety Systems $2,900,000 Musical Instrument Replacement $3,000,000 Performing Arts Facility Needs $450,000 Athletic Fields & Facility Needs $1,000,00 Playgrounds $478,000 Equipment $1,250,000 TOTAL $30,378,000