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Public School Academy State Aid Note (PSA SAN)
Closing: August 31, 2023
Application Due: July 10, 2023
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 2023 PSA SAN: General Information
- Program Requirements 2023
- Program Memo 2023
- Application and Loan Process 2023
- Financing Schedule 2023
- State Aid Status Reports
Documents due on or before July 10, 2023
- 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 a 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 2023 State Aid Note Borrowing Submit to Note Counsel as a Word document
- Academy General Fund Budget - Fiscal Year End 6/30/2023, as amended
- Academy General Fund Budget - Fiscal Year End 6/30/2024, 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