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Public School Academy State Aid Note (PSA SAN)

Public School Academy State Aid Note (PSA SAN)

 

Closing: August 29, 2024

Application Due: July 8, 2024

The Michigan Finance Authority (MFA) offers a streamlined loan program to finance short-term operational cash flow needs for public school academies. MFA facilitates the process by pooling the loans, soliciting bids, and obtaining the highest possible short-term rating, resulting in competitive interest rates and typically lower costs for the schools. 

September 2024 PSA SAN: General Information

 

Documents due on or before July 8, 2024

  • PSA State Aid Note Loan Program Application (Form 4039A) Submit to Note Counsel as a Word document (in addition to the signed copy)
  • Certificate of Authorizing Body. Submit to Note Counsel as Word document
  • Educational Service Provider Agreement (management contract), if any
  • PSA State Aid Note Loan Program Cash Flow Attachment (Form 4046A) Submit to Note Counsel as an Excel spreadsheet
  • Academy Board Resolution Authorizing 2024 State Aid Note Borrowing. Submit to Note Counsel as Word document 
  • Academy General Fund Budget – Fiscal Year End 6/30/2024, as amended
  • Academy General Fund Budget – Fiscal Year End 6/30/2025, as adopted

 

Michigan Finance Authority

Richard H. Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922

Main Office: 517-335-0994
Graham Davidson: 517-335-6102
Michelle Viaches: 517-241-2847

www.michigan.gov/mfa
TreasMFA-PSA-StateAidNote@michigan.gov