CSFA Webinar Information
REPLAY | SLIDES | TRANSCRIPT
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 |