The Walled Lake Consolidated Schools will be seeking a renewal during the Nov. 6 general election of its building and site sinking fund millage that was originally approved by voters in 2004.
Since then, over $16 million has been generated for improvements and repairs to district buildings.
“In absence of that funding, these improvements and repairs would have had to be covered by our General Fund balance. If that had been the case our General Fund would be gone,” said Assistant Superintendent of Business Services Teri Les. “While the sinking fund cannot be spent on General Fund items, having the sinking fund money for those repairs and improvements relieves the General Fund from having those costs.”
By law, proceeds from the sinking fund are not allowed to be used for teacher, administrator, or employee salaries, maintenance, or other operating expenses.
The current millage is set to expire during Fiscal Year 2013-2014, which Les said means that the levy would be last collected next summer.
The ballot language reads as follows: “Shall the Walled Lake Consolidated School District be authorized to levy one-half (0.50) mill ($0.50 per $1,000 of taxable value) for a period of ten (10) years, from July 1, 2013 through June 30, 2023 to create a building and site sinking fund for the purpose of the construction or repair of school buildings or any other purpose allowed under Michigan Law? This millage is a request for a renewal of the voter approved building and site sinking fund tax levy which will expire in 2013. This millage would provide estimated revenues to the Walled Lake Consolidated School District of approximately Two Million One Hundred Thousand ($2,100,000) Dollars during the 2013 calendar year, if approved and levied.”
According to Les, the district is seeking renewal the November election to ensure that the millage continues without interruption.
“If we waited until the 2014 election, we would go a year without the fund. We have a 100-percent tax levy in the summer, so the current millage will be collected in the summer of 2013 and then expire. If this millage renewal is approved, it just continues the current millage,” she said.