Fowlerville Community Schools - 45 Year of Bonds and Loans

[Shadowninja]

Dearest reader,

45 YEARS.

That's how long Fowlerville Community Schools is listed as participating in Michigan's School Bond Qualification and Loan Program.

And according to the Michigan Department of Treasury's 2025 annual report, the district wasn't classified as "Repaying."

It was classified as "BORROWING."

Now, before anyone jumps to conclusions, participating in Michigan's school loan program is perfectly legal. The program helps qualifying school districts meet their bond payments when debt tax collections aren't sufficient.

But after finding Fowlerville's name in the state's annual report, I decided to follow the breadcrumbs a little further. 🔎

And what I found deserves a closer look.

💰 FOWLERVILLE'S STATE SCHOOL LOAN BALANCES

According to Michigan Treasury records:

📌 2023: $17,094,804.84

📌 2024: $18,543,734.02

📌 2025: $19,373,482.21

📌 October 15, 2026: $20,370,990.51

That's an increase of approximately $3.28 MILLION, or 19.2%, from the first reported balance to the latest statement.

And these aren't estimates pulled from someone's Facebook comment.

They're figures from Michigan's own Treasury records.

📚 SO WHAT EXACTLY IS THIS PROGRAM?

Michigan's School Bond Loan Fund and School Loan Revolving Fund programs allow qualifying districts to borrow from the state to help make payments on existing school bonds.

But borrowing to make bond payments creates another financial obligation.

And that obligation accumulates interest.

According to Fowlerville's October 15, 2026 Treasury loan statement:

💵 Outstanding state loan balance, including accrued interest: $20,370,990.51

📈 Current interest rate: 3.77586%

🏠 Current computed debt millage: 9.55 mills

📅 Mandatory final state loan repayment date: May 1, 2040

And here's another number that caught my attention.

The Treasury statement reports approximately $2.23 MILLION in interest accrued during the statement's reporting period.

That's not a single year's interest. And it isn't necessarily the amount taxpayers will pay in future interest.

But it illustrates why understanding these obligations matters.

Now, there's something else I want readers to understand.

45 years in the program does NOT necessarily mean 45 consecutive years of borrowing without repayment.

And a district being classified as "Borrowing" does not mean it isn't making payments on its underlying bonds.

Those are important distinctions.

But the figures still raise a reasonable question.

💬 After 45 years in Michigan's School Bond Qualification and Loan Program, why is Fowlerville still classified as borrowing, and what is the district's repayment plan for its outstanding state loans?

Because taxpayers deserve to understand more than the original amount of a school bond.

They deserve to understand the interest.

The additional borrowing.

The repayment schedule.

And the long-term financial obligations that follow.

I am not suggesting that Fowlerville has done anything improper.

I am asking a much simpler question.

When a school district has more than $20 MILLION outstanding through Michigan's state school loan programs, shouldn't that information be easy for taxpayers to find and understand?

The numbers are public.

The questions are reasonable.

And the receipts come directly from the Michigan Department of Treasury.

With receipts and respect.

#LadyBudgetdown #FowlervilleCommunitySchools #LivingstonCounty #MichiganSchools #SchoolBondLoanFund #SchoolLoanRevolvingFund #SchoolDebt #PropertyTaxes #SchoolFinance #TaxpayerTransparency #PublicEducation #FollowTheReceipts