Cash Reserve Program

Sponsored by the California School Board Association (CSBA), this program works to provide school districts, community college districts, and county offices of education with the funds needed to address cash shortfalls due to the irregular receipt of state aid and property tax revenues.

Participants issue Tax and Revenue Anticipation Notes (TRANs) through a streamlined, pooled process. With more than 5,900 TRANs issued, the Cash Reserve Program is an established cash management tool designed to supplement issuers’ general fund cash reserves for the fiscal year and to act as a buffer for temporary cash flow needs. Proceeds from the sale of a Cash Reserve Program TRAN issue may be used to fund imbalances caused by the mismatch between revenues and expenditures.

DS&C Logo

650 California St., Suite 2050
San Francisco, CA 94108

415.956.1030 (phone)
415.956.1322 (fax)

Upcoming and Recent Financings

Select a financing to learn more.

Ed-Tech Bonds®

Read More

Ed-Tech Bonds®

Developed and patented by DS&C, Ed-Tech Bonds® provide a fiscally responsible, ongoing solution to the statewide problem of financing educational technology

Cash Reserve Program

Read More

Cash Reserve Program

Guard against temporary cash flow shortages in a safe, cost-effective way by creating an additional cash reserve to the general fund.

CAB Restructuring Bonds®

Read More

CAB Restructuring Bonds®

CAB Restructuring Bonds® allow districts to convert costly capital appreciation bonds into lower-cost current interest bonds, saving millions.

GO Flex-Bonds®

Read More

GO Flex-Bonds®

GO Flex-Bonds® provide districts with an ongoing source of facility funding with reduced borrowing costs and greater fiscal controls.

GO Reauthorization Bonds®

Read More

GO Reauthorization Bonds®

Avoid stalled GO bond programs by seeking voter approval to keep projects on track without increasing debt.