An October report from the Texas Comptroller of Public Accounts lists the 10 school districts in the state with the largest amounts of debt as of Aug. 31, 2011.

Texas School Districts with the largest debt (August 2011)
1 Dallas $2.62 billion
2 Houston $2.45 billion
3 Cypress-Fairbanks $1.77 billion
4 Northside $1.76 billion
5 Frisco $1.25 billion
6 North East $1.23 billion
7 Katy $1.08 billion
8 Lewisville $1.02 billion
9 Conroe $1.0 billion
10 Plano $976.6 million
Source: Texas Comptroller of Public Accounts, "Your Money and Education Debt"