New data from the Department connected with Education shows outstanding institution district debt set a fresh record at $6.1 zillion last year.? The average debt per-pupil (just counting enrollment at districts with debt) is $14,715.? Entire debt outstanding and the total per-pupil for each district can be downloaded here at KansasOpenGov.org.? District-level reports on debt issued by year and comprehensive debts payments are also on the site.
Districts issued $905 million inside new bonded indebtedness last year along with retired $263 million, for a web debt increase of $642 , 000, 000.? School district debt includes nearly doubled since June 2006, when it was $3.2 thousand. ?School bond levies should be approved by district voters additionally, the proceeds are typically used for different construction and facilities upgrading.
School district debt is paid purely by district residents often but many districts get further state aid to cover a portion of the cost.? New debt issuance is responsible for that portion of state make it possible to jump from $52 million within 2005 to $180 million during the past year.? To put that in point of view, had Bond & Interest support remained steady over the period, $659 million more could have been there for fund Instruction.
Concerned over swiftly increasing debt levels and the amount of money being diverted with instruction, the Legislature passed a law limiting the amount of new debts issued collectively by school districts to the total amount on each year.? Legislation has been released this year, however, that would rescind which will law.? The bill doesn’t distinguish which legislator made the proposition.
By the way, Kansas has the Eighth highest per-student debt load in america according to the most recent (2015) Census survey.