Institutional Federal Compliance Report 2021

General Debt Service Fund

The General Debt Service Fund is a major fund that is used to account for the payment of principal and interest on the State’s general debt and the payments on certain lease/purchase or other contractual obligations. The General Debt Service Fund is divided into two accounts. The principal and interest payments for the State’s general debt and for certain lease/purchase or other contractual obligations are made from the General Debt Service Account. The principal and interest payments for the Tobacco Settlement Financing Corporation (TSFC) are made from the Tobacco Settlement Financing Corporation Account.