DATE:
June 03, 2025
22
TO:
Board of Supervisors
SUBJECT
Title
COUNTY OF SAN DIEGO 2025 TAX AND REVENUE ANTICIPATION NOTES (DISTRICTS: ALL)
Body
OVERVIEW
In the ordinary course of business, local governments may experience temporary mismatches in cash flow during a given fiscal year due to the timing of the receipts 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 County of San Diego (County) has periodically issued a series of annual tax and revenue anticipation notes ("2025 TRANs") to manage its cash flow. For Fiscal Year 2025-26, the County intends to issue its 2025 TRANs. The amount will depend on the County's projected cash flow profile for Fiscal Year 2025-26. The last time the County issued TRANs was in Fiscal Year 2013-14 which included participating school districts.
The 2025 TRANs is a form of temporary borrowing payable from taxes, income, revenue, cash receipts and other moneys provided for Fiscal Year 2025-26 which will be received by or will accrue to the County during such fiscal year for the General Fund of the County and which are lawfully available for the payment of current expenses and other obligations of the County.
RECOMMENDATION(S)
CHIEF ADMINISTRATIVE OFFICER
Adopt the Resolution entitled:
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN DIEGO PROVIDING FOR THE ISSUANCE AND SALE OF COUNTY OF SAN DIEGO 2025 TAX AND REVENUE ANTICIPATION NOTES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $200,000,000 AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS AND CERTIFICATES AND ACTIONS RELATED THERETO
EQUITY IMPACT STATEMENT
Approval of the 2025 Tax and Revenue Anticipation Notes will help meet the short-term cash flow needs of the County to continue its operations and programs that support the most vulnerable population across the region.
SUSTAINABILITY IMPACT STATEMENT
Today's action supports sustaina...
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