Debt Obligation
The Seguin ISD Business Department is responsible for preparing financial reports and debt information that promote transparency and accountability.
The information below shows debt obligation as of June 30, 2019.
DEBT INFORMATION SUMMARY
Tax-supported bonds are payable solely from future revenues of the Debt Service Fund. The Debt Service Fund accounts for the resources accumulated and payments made for principal and interest on long-term general obligation debt of governmental funds. The primary revenue source is local ad valorem property taxes levied specifically for debt service. Revenue-supported bonds are payable from revenues of the General Fund. The General Fund accounts for revenues from local maintenance taxes (M&O), other local sources, foundation entitlements, and other Foundation School Program sources.
The following is a summary of changes in long-term debt for the year ended June 30, 2019.