Date:
August 18, 2026
32
To:
Board of Supervisors
Title
San Diego County School Districts Tax and Revenue Anticipation Note Program, Series 2026A (Districts: All)
End
Overview
In the ordinary course of business, local governments and school districts may experience temporary cash flow shortage during the fiscal year due to a mismatch in the timing of the receipt of revenues, which is largely focused on the months surrounding tax payment dates, and ongoing payment of expenditures. To meet these short-term cash flow needs, school districts may need to issue a Tax and Revenue Anticipation Note (TRAN) to manage cash flow. Pursuant to Title 5, Division 2, Part 1, Chapter 4, Article 7.6, Section 53853 of the California Government Code, the County of San Diego (County) Board of Supervisors is authorized to approve the issuance of TRANs under the San Diego County School Districts Tax and Revenue Anticipation Note Program (Note Program) on behalf of participating San Diego County school districts (Districts), provided such approval is granted within 45 days of receipt of a request from the governing board of the respective District. This year, eight Districts determined that participation in the Note Program was necessary and have adopted the corresponding resolutions requesting participation, borrowing an aggregate amount not to exceed $195,750,000. Today's recommendation is to support these eight Districts and allow the County to approve the Fiscal Year 2026-27 Note Program on behalf of the participating Districts.
Body
Recommendation by Chief Administrative Officer:
Adopt a Resolution entitled:
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN DIEGO PROVIDING FOR THE BORROWING OF FUNDS BY CERTAIN SCHOOL DISTRICTS FOR FISCAL YEAR 2026-27 THROUGH THE EXECUTION BY THE COUNTY OF CERTAIN 2026-27 TAX AND REVENUE ANTICIPATION NOTES AND THE PARTICIPATION BY SUCH SCHOOL DISTRICTS IN THE SAN DIEGO COUNTY SCHOOL DISTRICTS TAX AND REVENUE ANTICIPATION NOT...
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