Sinking Fund Election 2024

Dear Hastings Community,

As your Superintendent, I want to share important information about the upcoming vote on the sinking fund renewal. 

Understanding Bonds vs. Sinking Funds

To appreciate the significance of a sinking fund, it’s important to understand how it differs from bonds:

• Bonds: Bonds function like a loan. The district issues bonds to borrow a large sum of money for significant projects, such as constructing new buildings or major upgrades. We then commit to repaying this amount, plus interest, over time. Bonds address immediate, large-scale needs.

• Sinking Funds: In contrast, a sinking fund is like a dedicated savings account. The district regularly allocates the sinking fund millage to this fund, which grows over time. This money is used for planned maintenance and repairs of existing facilities, helping us manage costs without borrowing.

Bonds cover urgent, large projects, while sinking funds are for ongoing repairs and upkeep. Your current tax rate supports both. This dual approach allows us to address both immediate and future needs effectively.

Sustaining Excellence Without Raising Tax Rates

A sinking fund renewal does not mean an increase in your tax rate. A renewal continues our current funding model, which allows us to invest in our schools without additional financial burden on our community. This demonstrates our commitment to enhancing educational quality while being mindful of financial concerns.

The sinking fund has been vital for making essential improvements and repairing our facilities over the last ten years. A sinking fund ensures continued support for these efforts without impacting the general fund, which primarily supports student and classroom needs.

Prioritizing Improvements and Repair

A key benefit of our sinking fund is its focus on improving and repairing our existing school buildings. Our schools are not just buildings; they are environments where our children learn and grow. Keeping these facilities in top shape is crucial for providing safe and functional learning spaces.

The sinking fund has allowed us to address improvements and repair  issues before they become costly problems. This proactive approach helps keep our schools in excellent condition and avoid more expensive repairs, directly benefiting students by ensuring their learning environments remain safe and effective.

Enhancing Learning Environments

Investing in our schools translates into better learning environments for our students. Well-maintained and updated facilities contribute to a more comfortable and effective educational experience. Modern classrooms and functional spaces help create an environment where students can excel.

Good facilities also help our educators by providing the tools and environment they need to teach effectively. When schools are in good shape, it fosters a positive atmosphere for both students and staff, contributing to better educational outcomes and supporting our mission to provide high-quality education.

Vote on November 5

Sincerely,