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Superintendent plans tax‑anticipation note to cover November cash‑flow shortfall
Summary
District leaders told the board they will bring a resolution in September to approve a tax‑anticipation note (TAN) with the district's bank to cover projected operating shortfalls before property tax receipts arrive in December and January.
Superintendent and finance staff said they will present a resolution at the September board meeting seeking approval to establish a tax‑anticipation note (TAN) with the district's depository bank to cover cash‑flow needs before property tax receipts are collected.
A staff member explained that tax revenue timing creates predictable low points in the district's cash flow, typically in November, and that a line of credit would let the district borrow what it needs during those months and…
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