Colorado State Treasurer Dave Young announced that the Colorado Department of the Treasury completed a $475 million sale to help 27 Colorado school districts bridge cash flow needs for the current school year.
“As a former middle school teacher, I know how important it is for schools to have the resources they need when students return to the classroom,” said Young. “I’m proud that the Colorado Department of the Treasury can provide interest-free loans to help districts bridge temporary funding gaps, pay teachers and staff on time, and keep classrooms running smoothly.”
The Colorado Department of the Treasury issues Education Tax Revenue Anticipation Notes (ETRANs) twice a year to fund interest-free loans for K-12 school districts that cover operational costs while they wait for local property tax funding.
“Because property taxes are collected in the spring, Denver Public Schools and many other Colorado school districts rely on the state’s interest-free loan program (ETRANs) to support the district’s operations,” said Chuck Carpenter, the chief financial officer of Denver Public Schools. “The Treasurer’s Office is a great partner to Denver Public Schools and school districts across the state. We appreciate their support of DPS and students in Colorado.”
“ETRANs ensure that school districts across Colorado can focus on educating students rather than worrying about temporary funding shortfalls,” said James Eke, director of capital finance for the Colorado Department of the Treasury. “By securing these funds at the state level, we can deliver the lowest-cost financing possible, saving schools money and keeping more resources in the classroom.”
The following school districts are anticipated to participate in the Colorado Series 2026A ETRANs:
• Archuleta School District.
• Aspen School District RE-1.
• Aurora School District.
• Bennet 29J.
• Boulder Valley School District RE-2.
• Cherry Creek (Arapahoe 5).
• Denver School District 1.
• Douglas County RE-1.
• Eagle County RE-50.
• Elizabeth School District.
• Englewood (Arapahoe 1).
• Estes Park (Larimer R-3).
• Fort Lupton (Weld Re-8).
• Gilcrest (Weld 1).
• Jeffco Public Schools.
• Johnstown-Milliken (Weld RE-5J).
• Lake County (Leadville).
• Littleton (Arapahoe 6).
• Mapleton (Adams 1).
• Moffat County RE-1.
• Platte Canyon, School District No. 1.
• Poudre School District.
• Roaring Fork (Garfield).
• Summit County RE-1.
• Thompson (Larimer R2-J).
• Windsor (Weld RE-4).
• Woodland Park RE-2.
ETRANs must be paid back within a given fiscal year. The recent issuance received an SP-1+ rating from Standard and Poor’s and an MIG-1 rating from Moody’s Investor Service, the agencies’ highest quality rating for municipal notes, respectively.
For more information on ETRANs, visit the Colorado Department of the Treasury website.
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