The Cedar Springs Public Schools Board of Education is requesting a one (1) mill sinking fund levy for a period of ten (10) years at the May 3, 2011 election.
• One mill would cost a homeowner with a $100,000 property value fifty dollars per year, less than one dollar per week.
• A sinking fund is a “pay as you go plan” with no interest or finance charges incurred by taxpayers.
• Stagnant or declining state funding has forced budget cuts for the last six years.
• Additional cuts and increased costs from the State are currently proposed at 2.4 million for the 2011-12 school year. In order to continue to support our infrastructure needs without additional funding we will be forced to cut programs for kids.
The Board of Education has worked hard to be good financial stewards.
Since 2003, the Board of Education has increased the district fund balance from a low of 5.7 percent to a current level of 14.99 percent. This fund balance allows us
to meet July, August, and September payrolls without the need to borrow. The Board has also decreased the percent of dollars spent on payroll from 85% to 75%.
Teachers, administrators, and support staff have taken freezes and benefits cuts to support our student needs first.
The Sinking Fund is the means by which the District can protect the community’s investment used by our students, staff, parents, and community.