2022 Sinking Fund
Thank You, Voters!
Wayne-Westland Community Schools Sinking Fund Proposal passes (58% voting in favor) on November 8, 2022.
Sinking Fund Proposal Details
As a result of the Sinking Fund that voters approved back in 2003 and renewed in 2012, Wayne-Westland Community Schools has been able to complete construction, repair and renovation projects annually, with board approval.
A few examples of what the Wayne-Westland Community Schools has been able to accomplish with the current Sinking Fund include:
- Repair and resurface more than 4,534,441 square feet of deteriorated parking lots.
- Replace about 279,391 square feet of deteriorated roofing.
- Repair and replace two old boilers, one chiller and ventilation systems in the schools.
- Replace more than 1,300 square feet of cracked and broken concrete.
- Construct new playground for Stottlemyer Early Childhood Center.
- and much more.
The proposed 2022 Sinking Fund would be a new 10-year, 1 mill levy that would generate about $2.2 million dollars per year for capital improvements for school buildings.
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 Schools for 10 years.
- The Sinking Fund would generate approximately $2,205,858 in the 2023-2024 school year.
- Sinking Fund dollars pay for improvements, such as roofing/concrete replacement projects, technology infrastructure improvements, energy and security improvements, additions, etc.
Ballot Language
SINKING FUND BALLOT LANGUAGE
Approved by the Board of Education in June 2022
Shall the limitation on the amount of taxes which may be assessed against all property in Wayne-Westland Community Schools, Wayne 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, 2023 to 2032, inclusive, to create a sinking fund for the purchase of real estate for sites for, and the construction or repair of, school buildings, for school security improvements, 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 2023 is approximately $2,205,858?
Frequently Asked Questions
On November 8, 2022 voters in Wayne-Westland Community School District will be asked to consider a Sinking Fund proposal on the ballot. The Sinking Fund millage would provide approximately $22.5 million in estimated revenues over a ten (10) year time span. If approved, these dollars would be used to repair and replace Wayne-Westland's current educational infrastructure.
When is the last time Wayne-Westland Schools had a Sinking Fund election?
In February of 2012, the Wayne-Westland Community Schools had a Sinking Fund renewal which was supported by the community.
What is the 2022 Sinking Fund?
It is a 1 mill, 10-year levy that can only be used for construction, repairs, or renovations. It is called a Sinking Fund because, unlike a bond, the money “sinks” or is used each year. Sinking Fund is the accounting terminology required by the Department of Treasury.
What is a mill?
A mill represents $1 for every $1,000 of the taxable value of your property.
How much will the November 2022 Sinking Fund renewal cost each homeowner?
For the owner of a $100,000 home, with a taxable value of $50,000, it would be $50 a year, or approximately $0.96 per week.
What capital improvements have been completed with the Sinking Fund?
With the current Sinking Fund, we have been able to:
- Repair and resurface more than 4,534,441 square feet of deteriorated parking lots.
- Replace about 279,391 square feet of deteriorated roofing.
- Repair and replace two old boilers, one chiller and ventilation systems in the schools.
- Replace more than 1,300 square feet of cracked and broken sidewalks.
- Construct new playground at Stottlemyer Early Childhood Center.
- ... and much more.
How would these repairs be done if Wayne-Westland Community Schools did not have a Sinking Fund?
The district would have to use funds from its general operating budget that are intended for educational purposes to make these annual repairs. Some repairs would not be done. The district would have to reduce educational spending in order to keep the buildings in good repair.
What can Sinking Fund dollars be used for?
Under current law, Sinking Fund dollars may be used for the construction or repair of school buildings and facilities, acquiring or installing instructional technology and infrastructure (wiring or materials for installing), security equipment, and the purchase of real estate. Sinking Fund dollars cannot pay for salaries, benefits, or classroom supplies. By law, Sinking Fund expenditures must be audited yearly for compliance according to the Michigan Department of Treasury guidelines.
What are the Sinking Funds restrictions?
- Districts cannot purchase school supplies or furniture with Sinking Fund monies.
- Districts cannot use sinking funds for painting, lawn care, snow removal, air filters, light bulbs, or the many other daily district maintenance needs.
- Districts may not use sinking funds to pay any employees' salaries or benefits, nor can district employees be used to complete Sinking Fund projects.
What differentiates a Sinking Fund from a Bond?
A bond proposal is a loan the district pays back over time with interest and bond issuance costs. Sinking Fund tax dollars are collected each year the sinking fund millage is levied by the board of education. There is no loan, no interest and the district can save the dollars unspent at the end of each year to tackle larger projects if needed. It gives the district greater flexibility in spending by providing additional funds for capital improvements.
What happens if the millage is not passed?
Major repairs would likely be postponed and ultimately lead to the decline of facilities.