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The KACo Advance Revenue Program (KARP), formed in 1990, was designed to help county governments and political subdivisions save money by providing low interest, non-project loans at the beginning of a fiscal year. The program is designed to cover monthly cash flow deficits at the beginning of the new fiscal year prior to collection of expected tax revenue.
Counties or special districts apply by submitting their budget. KARP analyzes the applicant for eligibility under the IRS code to participate. The eligible entities that participate in the program issue short-term tax anticipation notes, |
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which are purchased by KARP which re-markets the notes to a financial institution. The funds are then repaid by the entity in January.
The program assists entities in preparing and evaluating their annual budgets. They also provide technical assistance on all issues of the budgetary and finance process to the entities and participate in the program. To increase the efficiency of your county or special district's operation, send us a copy of your budget and your eligibility will be calculated.
There is no obligation to participate, even if you qualify, so why wait? Take a closer look at KARP and we may be able to help you strengthen your financial position year in and year out. The 2008 KARP application will be available in March, so please watch for our mailing, or check back here to download your printable copy. Just complete it and send it back with copies of the necessary financials and we'll handle the rest! |
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What others are saying about KARP... |
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Sandy Lee Watkins
Henderson County Fiscal Court
KARP is a no-brainer. It will benefit your budget and it has helped Henderson County every year we've participated. We don't plan a budget without it. I would highly recommend KARP as a trusted option for budgetary protection. | |
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Stephen Castle
Lexington-Fayette County Health Department
Utilization of this cost saving program is an integral component of budgeting and cash flow management for this agency. It has been very beneficial to us and I would highly recommend it to any one looking to strengthen their fiscal budget. |
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Stu Suggs
Kenton County Public Library
KARP allows special taxing districts such as ours to borrow funds during months when tax receipts are minimal. The program acts like a line of credit for the library with the bonus of earning interest on the unused portion of the line of credit. | |
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Chief Larry Potter
Montgomery County Fire/EMS District
Participation in the KARP program has become part of our regular budgetary planning routine. It has played a key role in our fire district’s fiscal stability and considering the small amount of effort it takes to apply, I strongly recommend it. |
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Average qualifications of Counties and
Special Districts during the last two issues: |
| 2007 KARP Issue |
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County General Funds
$500,036.00
County Road Funds
$219,039.00
Health Districts
$1,225,565.00
Library Districts
$988,533.00
Fire Districts
$557,100.00
Max Investment Rate:
1.20% | |
| 2006 KARP Issue |
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County General Funds
$414,730.00
County Road Funds
$195,012.00
Health Districts
$1,730,569.00
Library Districts
$619,175.00
Fire Districts
$547,100.00
Max Investment Rate:
1.20% | | | | |
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