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Tax Anticipation Notes

Tax Anticipation Notes. Governing Board Meeting 6-14-12. Michael E Finn, CFO. Tax Anticipation Notes (TANS). TANS are securities, similar to bonds, but with a maturity of one year or less Used to cover operating deficits created by uneven revenue collections

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Tax Anticipation Notes

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  1. Tax Anticipation Notes Governing Board Meeting 6-14-12 Michael E Finn, CFO

  2. Tax Anticipation Notes (TANS) • TANS are securities, similar to bonds, but with a maturity of one year or less • Used to cover operating deficits created by uneven revenue collections • Debt service is paid from taxes, state aid and interest earnings

  3. Requested Authorization • Administration is recommending that the Governing Board provide authorization for the issuance of TANS not to exceed $35,000,000 • Current year TANS issuance authorized not to exceed $35,000,000 • $28,000,000 actually issued

  4. Questions

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