Porter Township School Corporation

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Presentation transcript:

Porter Township School Corporation Financial Moment April 2013

Debt Service Fund Can be used for (IC 20-40-9): To repay the issuance of debt Debt includes: Bonds (lease-rental) Interest on Short Term Debt Unreimbursed Textbook Rental

Unreimbursed Textbook Rental Claims submitted yearly for students on free/reduced lunch In the past, a percentage was funded In the past, we received payment for the claims submitted The state has now moved to a flat rate per student This year’s rate $76.16 The difference between the state reimbursement and the cost of textbook rental may be shifted to the debt service fund