BD eyes possible sinking fund levy
If Britton Deerfield board members follow through with a vote next month, the voters in the school district will most likely see a one-mill sinking fund levy request on a ballot later this year.
The board’s confidence about the financial outlook for the district was bolstered by a positive audit report of the finances by Ron Eaton of the accounting firm Robinson, Eaton and Owen, Adrian.
The district still has approximately $47,000 in a capital project fund left over from the last sinking fund millage the former Deerfield district had. The money can only be used for projects in the Deerfield building. Building improvement and capital projects in Britton must be taken out of the general fund.
The district has a need for some capital improvements, but there isn’t much room in the budget. The restricted fund balance of $406,000 was reduced to $357,657 last year. A one-mill levy would generate $160,000.
For the complete story by Melissa Burnor, please see the Dec. 25, 2013, edition of The Advance.