Cadillac Schools Board to Decide on Sinking Fund Proposal

The Cadillac Area Public Schools (CAPS) Board of Education is set to make a crucial decision on Monday regarding the potential establishment of a sinking fund. This proposal aims to secure funding for the ongoing maintenance and improvement of district facilities, building upon the investments made through the district’s 2018 bond.

CAPS Superintendent Jennifer Brown indicated that the district is exploring the possibility of a sinking fund, which would provide a sustainable financial mechanism for addressing facility needs. Brown explained that this fund would help maintain the investments made in 2018 and prevent future funding challenges. The board’s decision will determine whether to place the sinking fund proposal on the ballot for district voters.

Should the proposal be approved, the sinking fund would generate necessary resources for scheduled repairs and upgrades across CAPS facilities. Brown emphasized the importance of timely maintenance, stating, “We’ve been talking about funding options to sustain the investments the community made in the school buildings in 2018. One common way to fund that is through a sinking fund. It is very different from a bond.”

The motivation behind seeking a sinking fund is to ensure that the district can address maintenance in a proactive manner. Previously, CAPS identified $65 million in necessary repairs, highlighting the critical need for a reliable funding source. Brown reaffirmed the district’s commitment to annual preventive maintenance and strategic planning for major repairs as systems reach the end of their useful life.

The bond approved by voters in 2018 allocated $65.5 million for renovations, expansions, and upgrades across all district buildings. The final phase of construction, which began in 2022, was completed in 2024, marking significant progress in improving educational facilities.

During the meeting, Emily Kearney, CAPS Chief Financial Officer, is expected to provide insights into the sinking fund’s specifics. She described it as a voter-approved, pay-as-you-go fund that could cater to essential repairs, including roof replacement, HVAC upgrades, and safety infrastructure improvements. If the board decides to move forward, families will receive detailed information about the fund’s intended use and potential tax implications before the proposal appears on the ballot.

In addition to the sinking fund discussion, the board will hear a presentation from the Cadillac Area Community Foundation Youth Advisory Committee regarding its annual survey. This presentation, postponed from last month due to scheduling conflicts, will focus on issues that matter most to local youth. Brown expressed her anticipation for the results, stating, “I look forward to hearing the results and how they’re thinking about ways in which those experiences can be improved.”

The CAPS Board of Education will hold a special organizational meeting at 19:00 on Monday at the Cadillac High School auditorium, located at 400 Linden St. This meeting will cover essential first-of-the-year items, including officer appointments and committee assignments. The regular board meeting will commence shortly after at approximately 19:15.

The decision on whether to place the sinking fund proposal before voters is a significant step for the Cadillac Area Public Schools, aimed at ensuring the longevity and quality of educational facilities for future generations.