Debt Obligations

As part of our continuing commitment to transparency and accountability to our community, Godley ISD is publishing information about its outstanding debt.

The Debt Service Fund accounts for payments of principal, interest, and related fees on the district's general obligation bonds. Under Texas law, only these debt service payments can be accounted for in this fund. School districts and other government entities issue bonds to finance major expenses such as buildings, building renovations, equipment improvements, and more. Bonds are issued similarly to a homeowner's mortgage in order to finance the purchase over time.

The district uses the Debt Service/Interest & Sinking Fund portion of the tax rate to repay bonded debt, both principal and interest over a determined period of time. This tax rate is set each year to generate tax revenue sufficient to repay debt payments for the year. The second part of a district's tax rate, the General Operating/Maintenance & Operations tax rate is used to fund the day-to-day operations of the district.

GISD will continue to explore various debt management practices to lower the borrowing costs of taxpayers such as bond refundings (refinancing) and prepayment of bonds when available.

Fiscal Year data will be updated when the financial audit for that year is completed.