Large school district free of debt

“Cobb is one of the largest school systems (in the nation) that is debt free.” Education activist JoEllen Smith

Cobb County Schools wants a renewal of its fiveyear sales tax collection program to pay for about $717.8 million of capital projects. Supporters such as Smith argue that the sales tax, or E-SPLOST, is necessary, and previous installments have allowed the system to pay off its debts.

Smith made this claim in a newspaper editorial in Cobb County’s local newspaper last month.

Cobb Schools is the second largest district in the state, and is the 23rd largest in the country, according to the Census Bureau. Census reports show that the system has no longterm or short-term debt. The system paid off its last $184 million in bond debt in 2007, and has incurred no additional bonds or loans, according to the state Education Department.

The system of 108,000 students ranks in the top 25 largest districts in the country, based on enrollment. And state and census data show the system has no debt. Using sales tax programs to pay off debt is common practice in Georgia, education experts said.

We rated Smith’s statement True.

Smith