If a school district has more than $10 million in tax-exempt debt, inclusive of all outstanding bonds, certificates of participation, and other public debt issues with durations of more than nine months, it must comply with the contractual requirements entered into under Securities and Exchange Commission (SEC) rules. District administrators and finance staff are responsible for providing required information to investors for debt issued since 1995. Unfortunately, many districts may not be fully aware of what they need to report. Developing policies and procedures to file the necessary information is critical. The most serious consequence of noncompliance is the possibility that a district may be unable to issue new debt when it wants to. The first step the district should take is to verify that annual reporting and event filings from the last five years are up-to-date. In addition, the district should establish policies for meeting requirements in order to ensure future compliance. The policy should designate the official(s) responsible for reporting and should provide for the periodic review and updating of procedures. Continuing education for staff is important both for addressing changes in SEC and industry rules and operations and for continuity in district compliance beyond the tenure of current staff.