Welcome to the Somerset School District Debt Management Webpage

Debt Service

Fund 39 is referendum approved debt, and Fund 38 is non-referendum approved debt (which is capped at $1M on a rolling basis). The debt service tax levy is made in the first half of the budget year for the upcoming calendar year (ie, levy fall 2015 for 2016 calendar year). Fund 38 debt service is within the Revenue Limit, while Fund 39 debt service is not.