Sinking Fund Information

The Hanover-Horton Board of Education has a ballot request for renewal of our Sinking Fund that would generate 1 mil for five years on the February 28, 2012 ballot. 

What is a Sinking Fund?

A Sinking Fund is a limited property tax that is voted on by the community for construction, renovation and major repair of district facilities.  It can NOT be used for salaries, buses, furniture, technology and routine maintenance.  Many individuals that dislike traditional bonds like the fact that the Sinking Fund generates money on an annual basis and does not need to be paid back with interest like a bond does to a third party. 

Why does the district need to renew the Sinking Fund?

A school district is like your home or business, we constantly have maintenance issues that need to be addressed for safety, energy savings, preventative maintenance or major replacement items like: boilers and roofs, etc.  The recent cuts to state funding for education have caused us to make reductions in every area of our budget.  This is the only way that we can generate additional funds to help maintain our district’s facilities needs. 

What are the needs of our district that can be met by a Sinking Fund?  

During the five years that our Sinking Fund has been in place we have replaced and/or fixed parking lots, sidewalks, replaced a drain field, replaced asbestos tile and carpet, added energy efficient lighting, motion sensors to reduce energy usage, resurfaced the track and HS gym floor, repaired the middle school roof, upgraded heating and cooling systems,  etc.  We will continue to prioritize the health and safety needs of our students and staff as well as keeping our buildings well maintained for our community.

What will the cost of the Sinking Fund mean to me? 

This is a renewal so it will not change your current millage levy in anyway. 

When is the election?

The election is scheduled at the same time as the primary on Tuesday February 28, 2012. You will vote at the polling place that you use for state and national elections. 

What can I do?

Please make sure that you vote.  If you are going to be out of town on the day of the election please vote by absentee ballot.  Finally, talk to your family, friends and neighbors about this important upcoming election.

                                                                   Paid for by Citizens for Education.