1. Tax Anticipation Notes Presented to the Finance Committee June 5, 2015

2. Tax Anticipation Notes  The School District issues a Tax Anticipation Note, or TAN every fall.  A TAN is a short term note issued to ease cash flow constraints in the general fund.  Our fiscal year begins on July 1 and most of our revenues are generated from local property taxes. The majority of the funds are received in November and December. 2

3. General Fund Cash Flows with FY 2016 projections 3

4. Summary of TAN Issuance 4