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- sinking Fund millage frequently asked questions
Sinking Fund Millage Frequently Asked Questions
Yes, the school district is required by law to have an independent audit of the expenditure of monies generated by sinking funds, and the audit is submitted to the Michigan Department of the Treasury.
- Not necessarily
- Bond funds can be used to pay for technology infrastructure, buses, furniture, and equipment.
- The HPS voter-approved sinking fund millage cannot be used for buses or general technology infrastructure.
- The sinking fund millage would enhance the district’s ability to keep our schools safe and in good condition while keeping our existing schools and facilities in good repair.
- Voter approval of a sinking fund millage helps to keep the district's general fund dollars in the classroom
- Additional safety and security enhancements
- Replace roofs and boilers, resulting in energy improvements and efficiencies
- Parking lot and driveway repairs
- Improvements to existing facilities and sites
- Computers and other technology for students
- Purchase of real estate to accommodate our growing district
The millage renewal would raise approximately $2,740,000 (2028 estimate) a year for building repairs, school safety improvements, and smaller-scale infrastructure projects.
- No, this is not a new tax. It is a renewal of the current sinking fund millage for 5 years.
- Voters in Hudsonville Public Schools have authorized a Sinking Fund millage for the past 28 years, starting in 1998.
| Technology | Security | Building/Site Improvements |
|---|---|---|
| Upgrading student devices | Security equipment (cameras, etc.) | Lighting and electrical upgrades |
| Upgrading instructional technology devices | Secure entry access (card readers, etc.) | Mechanical and plumbing upgrades |
| Upgrading network infrastructure | Security IT infrastructure | Parking lot upgrades |
- Keeps more general fund dollars in the classroom, instead of the boiler room
- Provides additional funding for safety and security improvements
- The safety of our students is always top of mind, and the Sinking Fund millage will provide the District with funds to make upgrades to our current safety/security infrastructure and technology as needed.
- The HPS Sinking Fund millage provides the District with dedicated funding towards our facilities, allowing us to preserve general fund dollars for teacher salaries and student programs.
- Provides additional funding for building and site improvements
- While HPS has made significant progress on upgrading our facilities, we still have a long list of improvements to aging infrastructure that the Sinking Fund would help tackle, including mechanical/plumbing upgrades, electrical upgrades, lighting upgrades, improvements to parking lots, improvements to sites, and more.
- A sinking fund millage is a millage that a district can levy with voter approval. It is generally utilized for “pay as you go” projects and allows timely execution of smaller infrastructure improvements.
- At Hudsonville Public Schools, the sinking fund would help address our most pressing aging facility issues and repairs.
- Voter approval of a sinking fund helps to keep the district's general fund dollars in the classroom.
- Providing our schools with up-to-date technology is a continuous process.
- While we have made replacements for our technology in the past, much of our equipment is at the end of its useful life.
- The Sinking Fund millage would provide HPS with another source of funds to upgrade and replace technology equipment over the next several years, as needed.
- No. The millage rate will not increase if approved by the voters. The millage rate will stay the same at .9702 mills, which is the current authorized rate. This is a RENEWAL, not an increase.
- Only non-homestead property owners like businesses and owners of second homes pay the 18.000 mills of the operating millage. Properties such as primary homes (principal residences) and qualified agricultural property do not pay the operating millage.
- The current millages applicable to all homeowners (with the principal residence exemption) for Hudsonville Public Schools is 7.9709.
- The current debt millage levy is 7.0000 mills
- The current sinking fund is 0.9709 mills