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Message from the Chair – Preparing Our Schools to Reopen

As the discussion on how and when to reopen schools has become the focus at the federal, state and local levels, CASH understands that school facilities and maintenance plays a significant role in this critical issue.  CASH continues to focus on providing resources to K-12 school districts and county offices of education from a school facilities and maintenance perspective that will allow them to be part of getting students back in the classroom.   

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Message from the Chair — Adjusting to the Times — Looking to the Future

As we approach the conclusion of a very challenging 2020, I want to reflect on CASH’s journey throughout this year, and also look to the future.  COVID-19 has been a game changer for K-12 schools in California and across the nation.  The public schools are this country’s essential nervous system with our students being the heart and soul of our nation.  The central role of public education is vital in the economic, social and political prosperity and stability of our society. 

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CASH Alert: AB 75 (O’Donnell) Kindergarten-Community College Public Education Facilities Bond Act of 2022

On Monday, December 7, 2020, Assemblymember Patrick O’Donnell introduced AB 75, the Kindergarten-Community College Public Education Facilities Bond Act of 2022, which would place a K-14 school bond on the 2022 state ballot. The amount of the bond is currently unspecified. While AB 75 is a starting point and it is likely that the program will evolve as discussions take place, as introduced this bill includes New Construction, Modernization Career Technical Education, Charter Schools, Disaster Assistance, Lead in Water Remediation, Small School Districts Assistance, Replacement of 75+ Year Old Buildings, and a Supplemental Grant for Support Facilities.

Bond dollars authorized by previous state school bonds are almost entirely exhausted.  CASH would like to thank Assemblymember O’Donnell for introducing this important bill.  CASH will work with Assemblymember O’Donnell and stakeholders to ensure the school facilities and maintenance community is at the table as the program is developed.

 

~Ian Padilla, Legislative Advocate

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Top Line Election Results
As predicted, both the federal election and the California state election will not be decided until later. It is possible that the White House will not be decided until Friday if Pennsylvania is the swing state to elect the President. However, it is possible that by late today or noon tomorrow the presidential election will be decided if voting is faster in swing states, other than Pennsylvania.

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CSFA Offers Additional TRAN Pools for K-12 Deferrals Cash Management

The California School Finance Authority offers a Tax and Revenue Anticipation Note (TRAN) pool for K-12 schools, providing a lower cost alternative to the single-district TRAN.  CSFA estimates that districts are expected to receive only about 70% of their State apportionment payments for 2020-21, with deferrals from February 2021 to June 2021.  Deferrals may continue into 2021-22.  Absent significant cash reserves, districts will need to borrow from external sources like their counties or investors by issuing a TRAN.

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