Sinking Fund Renewal: May 6, 2025
A video from Dr. Alward, Superintendent of Grand Blanc Community Schools
GBCS Sinking Fund Renewal
This is a Renewal, which means it will NOT raise taxes.
In recent years, the Sinking Fund mills have been reduced by the Headlee Amendment due to rapidly rising home values, so the asking rate has actually fallen below the original Sinking Fund voter approval of 1 mill. At this time, we feel the amount collected under this renewal, approximately $1.8 million, will be sufficient funding for upkeep of district properties. Therefore, the district will seek only a renewal of the current 0.9915 mills on May 6, 2025. This Renewal would last for 10 years.
Sinking fund dollars provide an avenue to upkeep and repair buildings and grounds, update building security, and can be used for the purchase of some technology. Legally it cannot be used for anything else - not supplies, salaries, benefits, etc.
- These funds keep our staff and students WARM, SAFE & DRY
- The dollar amount collected via Sinking Fund will be approx. $1.8 million this year
- Grand Blanc Schools owns & maintains 19 buildings across the district, plus various outbuildings: 9 outdoor playgrounds are maintained, along with various other recreational areas such as basketball courts at the elementary and middle schools and soccer fields at many of the elementary buildings. Additional upkeep of the nature preserve, facilities at central campus and both middle schools, and various outbuildings is also required. Many of these areas are used by the community after school hours
- This 0.9915 mills represents approximately 2% of the district's annual budget
- The Sinking Fund allows a cushion that protects the general fund against large, unforeseen repairs and makes it possible for the Facilities Department to keep properties up very well, in order to extend the natural life of district property and prevent damage and disrepair.
- A homeowner with a taxable value of $100,000 will pay less than $100 per year toward the Sinking Fund (see the calculator below to enter your home's approximate market value.)
This funding source allows us to make repairs without depleting the General Fund.
Over 76% of the General Fund budget is designated to fund staff salaries and benefits as illustrated below. The remainder is split between utilities, supplies, and purchased services and equipment. As you can see, any large unexpected expense could critically impact the district's budget.
Recent Grand Blanc Schools Projects Made Possible by the Sinking Fund:
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HVAC controls throughout the district between 2021 and 2024: $897,089
(increased efficiency both of the systems themselves, and repairs done on them!) -
Cook Elementary Paving - $643,879
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McGrath Playground Paving- $209,702
- HS West Roof Repair- $727,178
- HS East Auto Shop Roof Repair- $59,125
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Secured Entrances at Anderson, Cook & Indian Hill Elementary Buildings: $300,000
Estimated Sinking Fund Millage Calculator
Put in the esimated value of your home an press enter/return to see approximately how much this Sinking Fund millage will cost you per year and month.
[1] For estimation purposes, this is assumed to be ½ of estimated market value entered. Taxable value is the value utilized for property tax calculation purposes. For your exact taxable value contact your applicable governing unit assessors office.
Note: Community Members may be eligible for the Michigan Homestead Property Tax Credit (the "Credit"). The Credit is a method through which some taxpayers can receive a credit for an amount of their property taxes that exceeds a certain percentage of household income. This program establishes categories under which homeowners or renters are eligible. We would recommend that community members consult their tax provider for eligibility and further information.
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