The City Council's Budget and Finance Committee recommended the adoption of an authorizing resolution for the issuance and sale of $1.7 billion in 2025 Tax and Revenue Anticipation Notes (TRAN) for Fiscal Year 2025-26. These notes are intended to meet general fund cash flow needs and cover temporary interfund borrowing. Additionally, the committee recommended authorizing the Controller and Treasurer to make temporary transfers of up to $375 million from various funds to meet City obligations during Fiscal Year 2025-26. The estimated total TRAN debt service cost is $1.57 billion, which will be repaid from collected General Fund revenues and taxes. This is a short-term borrowing that does not impact the City's debt capacity.