LeoGlossary: Interfund Loan Notes
Interfund loans involve loaning money from one of a local government’s funds to another.
In some cases, money may be transferred or lent between funds. For example, money from the general fund may be transferred to the highway fund. In other cases, money may not be transferred.
An interfund loan may be made as a capital outlay note (CON), a tax and revenue anticipation note (TRAN), a grant anticipation note (GAN), or a bond anticipation note (BAN), and usually is subject to approval by the state Comptroller’s Office.
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