California School Finance Authority

CSFA Webinar Information

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School districts, county offices of education, community college districts and charter schools (Local Educational Agencies or LEAs) will not be insulated from the recessionary effects of the COVID-19 outbreak impacting the State budget in FY 2020-21. The deferral of State apportionment payments for up to seven months will create unprecedented challenges for LEA cash management. Some form of external, short-term borrowing may be required to maintain financial liquidity. Tax and revenue anticipation notes (TRANs) are a relatively convenient and low-cost borrowing option for LEAs. In coordination with CDIAC, this CSFA webinar will brief LEAs on the K-14 aspects of the State’s FY 2020-21 budget and its implications for cash flow management; describe the process by which LEAs size and issue a TRAN; and, present CSFA’s plans for two new pooled TRAN programs which will provide K-14 districts and charter schools with simple, timely and fully transparent access to the capital market.

Opening Remarks: Fiona Ma, CPA, California State Treasurer
Special Guest: Jack O’Connell, Former State Superintendent of Public Instruction, Capitol Advisors Group
Moderator: Katrina Johantgen, California School Finance Authority
Speakers: John Gray, School Services of California
Mike Fine, Fiscal Crisis and Management Assistance Team
Annette Yee, Montague DeRose and Associates, LLC
Mike Kremer, Montague DeRose and Associates, LLC