Sinking Fund Replacement 2026

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.

• Allows us to perform necessary facility repairs and renovations without using educational dollars.

• Preserves educational dollars for the classroom, enriching programs, and opportunities for our students.

Sinking Fund "What", "Why", "How", "Where"

If the sinking fund replacement is not approved, the district will have fewer dedicated funds for building repairs, safety improvements, and facility maintenance, which could lead to delayed projects and higher costs in the future.

It will also force the district to use General Fund dollars that would impact student learning. 

A levy rate of 1.8309 mills for the Reading Community Schools (RCS) Sinking Fund Replacement. 

Ballot Preview

This proposal will allow the school district to replace the building and site sinking fundmillage previously approved by the electors.

Shall the limitation on the amount of taxes which may be assessed against all property inReading Community Schools, Hillsdale and Branch Counties, Michigan, be increased by and theboard of education be authorized to levy not to exceed 1.8309 mills ($1.8309 on each $1,000 oftaxable valuation) for a period of 5 years, 2026 to 2030, inclusive, to replace the previouslyapproved sinking fund millage with a sinking fund millage for the purchase of real estate forsites for, and the construction or repair of, school buildings; for school security improvements;for the acquisition or upgrading of technology; for the acquisition of student transportationvehicles; for the acquisition of parts, supplies, and equipment used for the maintenance ofstudent transportation vehicles; for the acquisition of eligible trucks and vans used to carryparts, equipment, and personnel for or in the maintenance of school buildings; for theacquisition of parts, supplies, and equipment used to maintain such trucks and vans; and allother purposes authorized by law; the estimate of the revenue the school district will collect ifthe millage is approved and levied in 2026 is approximately $398,000 (this is a replacement ofmillage that expired with the 2025 tax levy)?

The RCS Sinking Fund Replacement will require a levy rate of 1.8309 mills, and the time frame is 5 years (2026-2030). This would be a ZERO-COST TAX/MILL INCREASE. This Sinking Fund proposal will only replace the current Sinking Fund that is in place. 

Gathering data, coming soon.

Moving forward, these are the items the District would like to purchase with Sinking Funds. It’s important to note that not all items may be purchased due to funding limitations:

New Track

New Signage at both buildings

Reynolds Elementary Gym Door Divider

District Technology

Maintenance Vehicle

Boys and Girls Bathroom Remodeled

Concession Stands at Barre Field

Football Bleachers

MORE ITEMS TO COME...

Have questions?