tax-anticipation note; tax-anticipation warrant

简明释义

抵税证券

英英释义

例句

1.The school district issued a tax-anticipation note 税收预期票据 to fund new educational programs.

学区发行了一种税收预期票据 税收预期票据以资助新的教育项目。

2.Local governments often rely on tax-anticipation notes 税收预期票据 to manage cash flow during lean months.

地方政府通常依赖于税收预期票据 税收预期票据来管理清淡月份的现金流。

3.A tax-anticipation warrant 税收预期凭证 can provide municipalities with the necessary funds to maintain services.

一种税收预期凭证 税收预期凭证可以为市政当局提供维持服务所需的资金。

4.Investors bought the tax-anticipation warrant 税收预期凭证 as a way to earn interest before the tax season.

投资者购买了税收预期凭证 税收预期凭证，以在税季之前赚取利息。

5.The city issued a tax-anticipation note 税收预期票据 to cover immediate expenses until the tax revenues come in.

该市发行了一种税收预期票据 税收预期票据以覆盖直到税收收入到来之前的即时支出。

作文

In the realm of public finance, municipalities often face the challenge of managing cash flow to meet immediate obligations while waiting for tax revenues to come in. To address this issue, local governments frequently utilize financial instruments known as tax-anticipation notes (TANs) and tax-anticipation warrants (TAWs). These tools serve as a bridge, allowing governments to access necessary funds before tax collections are realized. Understanding how these instruments work is crucial for both public administrators and citizens who wish to comprehend the financial operations of their local government.A tax-anticipation note is essentially a short-term debt instrument issued by a municipality that allows it to borrow against anticipated future tax revenues. When a local government issues TANs, it is essentially saying, "We expect to collect certain taxes in the near future, and we need funds now to cover our expenses." These notes typically have a maturity period of one year or less, and they are often issued at a lower interest rate compared to long-term bonds. The attractiveness of TANs lies in their liquidity and the fact that they can be quickly sold to investors, providing immediate cash flow to the issuing authority.On the other hand, a tax-anticipation warrant functions similarly but has distinct characteristics. TAWs are also issued by municipalities and represent a promise to pay a specified amount at a future date when tax revenues are collected. However, unlike TANs, which are usually sold at a discount, TAWs may not be sold directly to investors in the same manner. Instead, they may be used as a form of payment to vendors or service providers, effectively allowing the government to manage its cash flow without needing to issue traditional debt. This flexibility can be particularly advantageous for local governments that face fluctuating revenue streams throughout the fiscal year.The use of tax-anticipation notes and tax-anticipation warrants reflects a proactive approach to financial management. By anticipating future revenues, local governments can ensure that they have the necessary funds to maintain essential services such as education, public safety, and infrastructure maintenance. This practice not only helps in avoiding cash shortfalls but also promotes a stable economic environment within the community.However, it is essential to recognize that reliance on these instruments should be managed carefully. Overusing TANs and TAWs can lead to a cycle of debt, where municipalities continually borrow against future revenues without addressing underlying fiscal challenges. Therefore, responsible budgeting and financial planning are vital to ensure that these tools are used effectively without jeopardizing the long-term financial health of the government.In conclusion, tax-anticipation notes and tax-anticipation warrants play a significant role in the financial landscape of local governments. They provide a mechanism for managing cash flow and ensuring that essential services continue uninterrupted. However, like any financial tool, they require careful consideration and prudent management to avoid potential pitfalls. As citizens become more aware of these instruments, they can engage in informed discussions about the financial decisions made by their local governments, ultimately leading to greater accountability and transparency in public finance.

在公共财政领域，市政当局常常面临管理现金流的挑战，以满足即时义务，同时等待税收收入的到来。为了解决这个问题，地方政府经常利用被称为税收预期票据（TANs）和税收预期凭证（TAWs）的金融工具。这些工具充当了桥梁，使政府能够在税收收入实现之前获得必要的资金。理解这些工具的运作方式对公共管理者和希望理解地方政府财务操作的公民至关重要。税收预期票据本质上是一种短期债务工具，由市政当局发行，允许其对预期未来税收收入进行借款。当地方政府发行TAN时，实际上是在说：“我们预计在不久的将来会收取某些税款，我们现在需要资金来支付我们的支出。”这些票据的到期期限通常为一年或更短，并且与长期债券相比，通常以较低的利率发行。TAN的吸引力在于其流动性，以及可以迅速出售给投资者，从而为发行机关提供即时现金流。另一方面，税收预期凭证的功能类似，但具有不同的特征。TAW同样由市政当局发行，代表在未来税收收入收集时支付特定金额的承诺。然而，与通常以折扣出售的TAN不同，TAW可能不会以相同的方式直接出售给投资者。相反，它们可以作为对供应商或服务提供者的支付形式，实际上使政府能够管理现金流，而无需发行传统债务。这种灵活性对于面临财政年度中收入波动的地方政府特别有利。使用税收预期票据和税收预期凭证反映了一种积极的财务管理方法。通过预期未来收入，地方政府可以确保拥有必要的资金来维持教育、公共安全和基础设施维护等基本服务。这一做法不仅有助于避免现金短缺，还促进了社区内稳定的经济环境。然而，必须认识到，依赖这些工具应谨慎管理。过度使用TAN和TAW可能导致一种债务循环，即市政当局不断借款以抵消未来收入，而不解决根本的财政挑战。因此，负责任的预算编制和财务规划对于确保有效使用这些工具而不危及政府的长期财务健康至关重要。总之，税收预期票据和税收预期凭证在地方政府的财务格局中发挥着重要作用。它们提供了一种管理现金流和确保基本服务持续不中断的机制。然而，像任何金融工具一样，它们需要仔细考虑和谨慎管理，以避免潜在的陷阱。随着公民对这些工具的了解加深，他们可以参与有关地方政府财务决策的知情讨论，最终促进公共财政的更大问责制和透明度。