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Meeting Date:
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Category:
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Adoption of Consent Agenda |
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Type:
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Subject:
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SY 2025-2026 State Treasurer’s Interest Free Loan Program |
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End Statements:
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End Statement V Financial Well-Being Financial Well-Being
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Enclosure:
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Attachment #1 - Colorado ETRANs 2025 School District Resolution
Attachment #2 - DCSD 25-26 Proforma |
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File Attachment:
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Summary :
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The Colorado State Treasurer offers an interest-free loan program for K-12 school districts, called Education Tax Revenue Anticipation Notes (ETRANs). These loans help districts with cash flow shortages, especially during the early part of the calendar year when property taxes haven't yet been fully collected. ETRANs are short-term loans that are repaid by the end of the fiscal year.
The program is mostly used for districts that have a heavy reliance on property tax and less reliance on state equalization to fund the total program revenue set by the state legislature. The state recognizes that a district has operating costs to cover throughout the year, and a majority of property taxes are collected in March and June after the school year is essentially completed.
This year the District is estimating a possible cash flow shortage from January until March due to the scheduled property tax collections. In the school year 2025-2026, we are asking for the authority to borrow up to $60 million. |
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Funding:
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Recommendation
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That the Board approve the participation in the State Auditor’s Interest Free Loan Program for the authority to borrow up to $60 million under Adoption of Consent Agenda. |
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Approvals:
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Recommended By: |
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Signed By: |
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Jana Schleusner - Chief Financial Officer |
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Signed By: |
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Erin Kane - Superintendent |
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