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the survival guide for iowa school administrators
SCHOOL FINANCE


Debt Service Funds
(Iowa Code, Chap. 298A.10)
Funds for Local School Districts

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The Debt Service Fund is established each time debt is issued to receive revenues and to make payments associated with debt. Following the completion of a project or paying off the debt, the remaining funds may be used for the original purpose, transferred by board resolution to the Physical Plant and Equipment Levy Fund, or to the General Fund, with a simple majority approval of the voters. Fund Directory Tree Handouts: Debt Service Fund


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