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.