What is the Revenue Anticipation Note (RAN) issued by Albany?
Albany — In the midst of a budget crisis, the City of Albany is taking out a $10 million “Revenue Anticipation Note” to avoid missed paychecks for City employees.
Darius Shahinfar, Treasurer of the City of Albany, tells CBS6 he first suggested the possibility of a loan in his second quarter financial report, which aligns with an annual cash flow shortage towards the end of the year…