Generic Format for Decision Briefing

Sinking Fund Renewal
Sinking Fund Renewal
Linden Community Schools’ current Sinking
Fund was approved on November 7th, 2006 for
ten years. In order to preserve the ability to
maintain our facilities, grounds and athletic
complexes, renewing the Sinking Fund is
critical in keeping Linden’s Schools on a solid
financial footing.
Linden Community Schools
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Sinking Fund Renewal
Outline
• What is a Sinking Fund?
• Promises Kept
• Sinking Fund – Project Categories:
•
•
•
•
Building Envelope
HVAC and Electrical - Energy Efficiency
Interior Work
Site Work (exterior)
• Future Needs
• Benefits to Students & Community
• Home Owner Costs
• Sinking Fund Election
Linden Community Schools
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Sinking Fund Renewal
What is a Sinking Fund?
A sinking fund is one option Michigan school districts
have to fund projects and expenditures related to their
facilities and equipment. The district benefits from a
sinking fund because it:
• Dedicates an annual amount of funds for approved uses
• Protects the community’s school facility investment
The renewal will not raise taxes, it will keep them the
same and allow the District to continue implementing
projects on its projected facility needs plan.
Linden Community Schools
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Sinking Fund Renewal
Promises Kept
Sinking fund dollars have been used for remodeling, repair, or construction
of buildings and sites. Sinking fund dollars have not been used to pay for
teacher, administrator or employee salaries, maintenance or other operating
expenses. Sinking fund dollars have allowed us to perform necessary
facility repairs and renovations without using “Educational” dollars,
keeping educational dollars IN the classroom, supporting and enriching
programs and opportunities for our students.
Long-term Facilities Management Evaluation
•
Roofs…………….……94%
•
Windows and Doors………60%
•
Boiler Plants……...….100%
•
HVAC Systems………..…….50%
•
Tech Infrastructure.…“ ”
•
Site (non-athletic)…………..80%
•
Building Automation...80%
•
Athletics…………………...…“ ”
•
Security upgrades…...50%
•
Flooring upgrades………….80%
•
Lighting……..…………100%
*
•
Energy Efficiency………….$.78/SQFT
*
Linden Community Schools
*
*Never ending room for improvements
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Sinking Fund Renewal
Building Envelope
• Windows
• Doors
• Roofs
• Building security
• Lock systems
• Access controls
• Portable classrooms
Linden Community Schools
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Sinking Fund Renewal
HVAC and Electrical- Energy Efficiency
• Heating plants (boilers)
• Chillers/Air conditioning
• Building automation systems
• Electrical panels and wiring
• Generator - back up power for
communications systems
• Technology wiring
• Lighting
Linden Community Schools
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Sinking Fund Renewal
Interior Work
• Classroom/Office
renovations
• Lockers
• Locker rooms
• Casework/Cabinetry
• Restroom renovations
• Ceilings
• PA Systems
• Fire Alarms
Linden Community Schools
• Carpet
• Stages
• Gym floors
• Gym bleachers
• Auditorium
• Kitchens
• Cafeterias
• Asbestos abatement
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Sinking Fund Renewal
Site Work (exterior)
• Parking lots
• Dugouts
• Driveways
• Fencing
• Sidewalks
• Flag poles
• Signage
• Concession stand
• Playgrounds
• Site Lighting
• Sports fields
• Bus loops
• Running track
• Guardrails
• Stadium bleachers
• Sprinkler systems
Linden Community Schools
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Sinking Fund Renewal
Future Needs
• Roofing
• Classroom storage
• HVAC
• Lockers
• Athletics
• Restroom renovations
• Pavement improvements
• Tech infrastructure
• Playground expansions
• Flooring
• Utility infrastructure
• Auditorium lighting system
• Electrical/Sewer /Water • Clock systems
• Security cameras
• Fire alarm systems
• Doors/Windows
• Door hardware
• Ceilings
Linden Community Schools
• Gymnasium equipment
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Sinking Fund Renewal
Benefits to Students & Community
 Preserves educational dollars for quality programs and
classroom instruction
 Allows our schools to remain current and competitive,
maintaining our reputation as a quality school district
 Maintains optimal learning facilities that enable the district
and the community to keep and attract residents, teachers
and administrators
 Protects our community’s long-term investment in our
school facilities
 Strong schools enhance a community’s desirability, which
has been shown to have a direct and positive impact on
property values
Linden Community Schools
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Sinking Fund Renewal
Home Owner Costs
• This proposal does
not increase taxes for homeowners
• This proposal does not increase millage rates for anyone
(homeowners or businesses). It renews a millage that has existed
for the past 20 years
• The renewal is for 1.3107 mills for a period of 10 years
• This renewal continues the tax levy of about $131 per year for a
home with a $100,000 SEV or $200,000 market value
• If not renewed, only source of funding for building repairs will be
general fund, which will take money from the classroom
Linden Community Schools
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Sinking Fund Renewal
Sinking Fund Election
Election Date: May 3rd, 2016
(with alternate dates of August 8th, 2016*
and November 8th, 2016*)
Ballot Language:
Shall the currently authorized millage rate
limitation of 1.3107 mills ($1.3107 on each $1,000 of taxable
valuation) on the amount of taxes which may be assessed against
all property in Linden Community Schools, Genesee and Livingston
Counties, Michigan, be renewed for a period of 10 years, 2017 to
2026, inclusive, to continue to provide for a sinking fund for the
purchase of real estate for sites for, and the construction or repair
of, school buildings and all other purposes authorized by law; the
estimate of the revenue the school district will collect if the millage
is approve and levied in 2017 is approximately $761,353 (this is a
renewal of millage that will expire with the 2016 tax levy)?
Linden Community Schools
* Election will be no cost to the district
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Sinking Fund Renewal
Linden Community Schools
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