Community College Debt
Texas’ 50 community and junior college districts have issued outstanding tax-supported debt, debt from lease purchase agreements and revenue debt. Accounting for 2.2 percent of Local Government debt outstanding, Texas districts had $4.3 billion of outstanding debt at the end of fiscal 2011.
Texas community and junior colleges receive revenue from multiple sources. More than half of community college expenditures in 2011 were related to instruction. The Texas Bond Review Board estimates that the community colleges’ debt service for 2012 will total $394 million.
Debt outstanding per student in fiscal 2011 was 150 percent higher than fiscal 2001.
Map of Texas Community and Junior Colleges’ Debt Outstanding
as of 8/31/11
In fiscal 2011, 29 of the 50 community and junior college districts had $3.0 billion in tax-supported debt accounting for 70.6 percent of the total. 42 districts had revenue debt worth $991.1 million or 23 percent of the total.
Only two districts issued lease-purchase debt, which accounted for the remaining $274.4 million or 6.4 percent.