Debt Service Fund

The Debt Service Fund is approximately 16% of the overall Noblesville Schools budget

Due to the state school funding structure it is common in Indiana for schools to issue bonds (loans) for new building construction, facility renovations, equipment, land and buses. 

This fund is used for

• Principal and interest on debt from capital projects
• Short-term debt like tax anticipation warrants and direct placements
• Long-term debt like lease rental schedules and general obligation bonds

The following funding sources provide money for the Debt Service Fund

• Property tax (rate determined by annual principal and interest payments)
• State excise tax, shared locally
• State financial institutions tax, shared locally 
• State commercial vehicle excise tax, shared locally