Frequently asked questions about the Sinking Fund

Q 1. I thought that the state pays for public education. What is this for?

A. Webberville Schools, like many Michigan schools, utilize a local sinking fund levy to fund school infrastructure repair and improvement. If approved, sinking funds will also be used to improve district technology and implement safety and security improvements.

Q 2. Is this a Sinking Fund renewal?

A. The current millage is 0.9728 mill. Webberville Schools is requesting an increase of 2.0272 mill for a total of 3 mills.

Q 3. What is the impact to the taxpayer if this proposal is passed?

A. A home with a taxable value of $70,000 (average value in Leroy Township) would see an approximate increase of $11.83/month.

Q 4. How has Webberville Schools demonstrated good financial stewardship?

A. The district recently refinanced a portion of the outstanding 2012 Bonds along with a portion of the outstanding School Loan Revolving Fund balance. The refinance achieved an estimated gross savings of $575,019 for tax payers. The district also secured a bond rating of A- during this process.

Q 5. Are there district costs that Sinking Funds cannot be used for?

A. Sinking funds cannot be utilized for employee salaries, employee benefits, books, consumable supplies, or annual maintenance such as mowing, cleaning, snow removal, etc.

Q 6. What happens if the Sinking Fund Proposal is not approved?

A. Webberville Schools makes payment for the current energy bonds through the use of the district sinking fund. If a renewal is not approved, Webberville Schools must utilize general fund monies to make these payments. This would reduce general fund educational dollars utilized for educational instruction by approximately $115,000 annually. The district would also not be able to finance the repairs and improvements outlined here.

Q 7. If I have more questions about the Sinking Fund, whom should I contact?

A. Please contact Superintendent Andrew Smith at the District Administration Office at 517-521-3422. Individuals are also encouraged to contact him for more information anytime via cell phone at 517-897-2437 or email AnSmith@webbervilleschools.org.

Andrew Smith