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SFUSD reports $65M TRANs sale, improved reserves and adopts 10‑year capital plan
Summary
CFO reported a successful $65 million sale of TRANs at a low interest rate and a year-end reserve of 2.6%; the Board adopted a 2007–2017 capital plan after Q&A on portable classrooms, demographic studies and facility inventory.
The San Francisco Unified School District reported improved year-end finances and adopted a 10-year capital plan at the Oct. 23 board meeting.
Chief Financial Officer Joe Grazioli told the board the district competitively sold $65,000,000 of tax and revenue anticipation notes (TRANs) on Oct. 16 at an interest cost near 3.34%, substantially below the local treasurer pool rate cited for comparison. Grazioli said the district closed fiscal year 2006–07 with a 2.6% unrestricted reserve and improved…
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