Are Texas ISDs Using Debt to Pay for Day-to-Day Expenses?
The answer: Yes, at least according to the recent school finance decision. Included in the district court’s 364-page Findings of Fact (FOF) is a mention of “some” Texas school districts assuming long-term debts in order to pay for short-term operational expenses. This, of course, runs contrary to prudent financial management practices. Here’s the specific reference (pg. 316): FOF...