Oak Park Schools Sinking Fund on Aug 2 Ballot, Info Mtg. July 11

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(Oak Park Schools, July 9, 2016)

Oak Park – Oak Park Schools current Sinking Fund will expire December 2016, and will appear on the ballot, Tuesday, August 2, 2016 for renewal. A sinking fund is a voter approved tax millage on all properties within Oak Park, which provides a dedicated income source to Oak Park Schools for maintenance, renovations, and major facility repairs. The current Sinking Fund has allowed Oak Park Schools to install security cameras to ensure safety, upgrade heating/cooling systems, and implement Energy Management Monitoring & Control Systems to cut energy costs.

According to Janette Brill, Executive Director of Business and Finance, “The j and d adsinking fund is vital to the success of Oak Park Schools. The Sinking Fund helps to decrease costs to the general fund for the purpose of building maintenance and repairs, and allows those funds to be used in classrooms where the dollars impact students directly.”

If the Sinking Fund is not renewed, the loss of 3 mills would equate to roughly $1 million in lost revenue per year for Oak Park Schools. There is no increase for the taxpayer to renew the sinking fund; this would be a continuation from May 2007. Oak Park Schools would benefit from the extension of the renewed Sinking Fund for maintenance and repairs to aging buildings and structures, facilitating the continuation of safety, and energy efficiency, as well as, other ongoing and much needed facilities projects.  We must keep our facilities operational at quality levels.

For more information, please join us at our next monthly Facilities Committee Meeting – Monday, July 11, 2016, 4pm, Oak Park Administration Building, 13900 Granzon, Oak Park, Michigan, 48237.
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