1. Porter Township School Corporation
Financial Moment
April 2013

2. 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

3. 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