Iowa School Cash Anticipation Program (ISCAP)This program is inactive due to lack of need in the current economic environment.
The Iowa School Cash Anticipation Program (ISCAP)
allows Iowa school corporations to pool their temporary cash flow management needs in a safe, cost-effective program. Temporary cash flow deficits happen for a variety of reasons, including uneven distribution of property tax collections. To respond to
the ever-changing economic environment, ISCAP has provided various cost-effective cash flow borrowing structures for school corporations over the years, from the traditional ISCAP pooled financing model to a line of credit model. ISCAP allows schools
to issue warrant certificates to finance cash flow deficits until revenues from property taxes and state foundation aid are received. Under the traditional ISCAP pooled financing model, ISCAP funds are not being used, they are invested in a guaranteed
investment contract. Earnings from the investment help offset the costs of the program for each participant.
Governed by a representative board of directors, ISCAP is shown to be consistently secure and cost-effective for schools as well as attractive to investors.