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Board authorizes staff to pursue up to $20 million in TRANs to smooth cash flow
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Summary
Trustees authorized staff to issue tax revenue anticipation notes (TRANs) of up to $20,000,000 to manage the district’s interim cash flow; staff said the exact amount will be set in May and noted prior year issuance of about $14.7 million.
The Western Placer Unified School District board authorized district staff to pursue tax revenue anticipation notes (TRANs) of up to $20 million to manage interim cash flow through the year.
Finance staff explained to trustees that many K‑12 districts rely on TRANs because property‑tax receipts arrive in large lump sums in December and April, leaving leaner months where the district borrows short‑term to bridge cash needs. The staff presentation noted the district issued roughly $14.7 million in TRANs in the previous year and that the exact TRAN amount for the current year will be determined in May.
Trustees moved, seconded and approved the resolution authorizing the TRAN issuance. Staff emphasized that TRAN proceeds are typically invested in the county treasury and that borrowing costs have historically been minimal for the district.
What happens next: Staff and counsel will finalize transaction details in coordination with county treasury and present the exact issuance amount and terms to the board when available.
