DATE:
August 26, 2025
30
TO:
Board of Supervisors
SUBJECT
Title
COUNTY OF SAN DIEGO AND SAN DIEGO COUNTY SCHOOL DISTRICTS TAX AND REVENUE ANTICIPATION NOTE PROGRAM, SERIES 2025A (DISTRICTS: ALL)
Body
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, the school districts need to issue a tax and revenue anticipation note ("TRAN") to manage cash flow. Pursuant to Article 7.6, Chapter 4, Part 1, Division 2, Title 5 ? 53853, the Board of Supervisors has the authority to approve the issuance of TRANs for the San Diego County School Districts within 45-days of the respective school district boards requesting that the County assist with the TRANs. The last time the County of San Diego (County) issued TRANs in conjunction with certain school districts within San Diego County via a County of San Diego and San Diego County School Districts Tax and Revenue Anticipation Note Program ("Note Program") was in Fiscal Year 2013-14, approved by the Board on May 7, 2013. This year, the County already issued its TRANs which closed on July 3, 2025, as approved by the Board on June 3, 2025. However, certain school districts still anticipate the need to participate in the Note Program. Today's recommendation is to support these school districts and allow the County of San Diego to execute a TRAN on behalf of the participating school districts. The amount of the Series 2025A TRAN will be dependent on the participating school districts' projected cash flow profiles for Fiscal Year 2025-26.
RECOMMENDATION(S)
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 C...
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