Treasury/Capital Fund Compliance

  • Debt Management 


    Welcome to the Los Angeles Unified School District’s Debt Management website.


    This website is maintained by the Treasury Branch of the District and is designed to provide easy access to the District’s financial, budget, policy and debt-related information.  The Treasury Branch is responsible for issuing and managing the debt obligations of the District and is committed to providing investors and the general public with relevant information as they evaluate participating in our debt programs.

    The Treasury Branch uses three principal types of municipal debt obligations to finance either long-term capital projects or short-term cash management needs:

    • General Obligation bonds (GOs) 
    • Certificates of Participation (COPs)
    • Tax and Revenue Anticipation Notes (TRANs) 

    The District’s taxpayers have approved five general obligation bond measures totally $20.6 billion since 1997, each one a record amount of authorization at the time.  The District is one of the largest issuers of general obligation bonds in California and the nation.  The District is using its bonding authorization to fund, in part, its massive new school construction and modernization program. Issuance of general obligation bonds also enables the District to leverage its bond program by obtaining State-matching funds for many of the bond program projects.   Details on the expenditure of bond funds are provided in Strategic Execution Plans available on the District’s Facilities Division website:   Information regarding the Citizen’s Bond Oversight Committee that oversees the expenditure of bond funds can also be obtained on the same website. 

    The District issues certificates of participation (“COPs”) to finance long-term capital projects and acquisitions that are not included in the bond authorization program, many of which provide a direct benefit or cost savings to the District. 

    The District issues tax and revenue anticipation notes (“TRANs”) to manage periodic short-term cash flow deficits attributable to the uneven receipt of property taxes during the fiscal year.  The District has issued TRANs about twenty times since the mid-1980s.

    All debt issuance by the District is governed by the District’s Debt Management Policy that is provided in the “Policies” module of this website.





    Timothy S. Rosnick                        
    Director of Capital Planning & Budgeting
    Office of Chief Business Officer

    333 South Beaudry Avenue, 27th Floor                          
    Los Angeles, CA 90017  

    Phone: 213-241-7989
    Fax: 213-241-6874