FINANCIAL_SERVICESAPPROVED

Philadelphia IU 26 Awards Financial Services Contract to Bank of America N.a. (July 2026)

The School District of Philadelphia approved a private, negotiated purchase of up to $600 million in Tax and Revenue Anticipation Notes, Series A of 2026-2027, by Bank of America, N.A. The direct purchase facility provides an initial $200 million advance on July 28, 2026, with additional advances at the bank’s discretion to manage fiscal year 2027 cash flow needs.

Status
APPROVED
Document date
July 23, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Bank of America N.a.
Agency
Philadelphia IU 26 · PA

Trusted by teams at

Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $600,000,000 (initial advance $200,000,000; additional advances up to $400,000,000 at Bank’s discretion)
Contract type
FINANCIAL_SERVICES
Contract term
July 28, 2026 – June 30, 2027 (maturity date of Notes)
Renewal date
2027-06-30
Renewal
Single-year tax and revenue anticipation note program maturing June 30, 2027; no automatic renewal, but additional TRANs may be issued separately for future fiscal years.
Document type
AgendaPacket
Source document
The School District of Philadelphia AgendaPacket Public Meeting 2026-07-23

Related contracts

Other contracts from Bank of America N.a..

View all →

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Philadelphia IU 26?

Bank of America N.a. was awarded this financial services contract by Philadelphia IU 26, as recorded on July 23, 2026. The contract value is Not to exceed $600,000,000 (initial advance $200,000,000; additional advances up to $400,000,000 at Bank’s discretion).

How much is the Bank of America N.a. contract with Philadelphia IU 26 worth?

The Bank of America N.a. contract with Philadelphia IU 26 is valued at Not to exceed $600,000,000 (initial advance $200,000,000; additional advances up to $400,000,000 at Bank’s discretion), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in The School District of Philadelphia AgendaPacket Public Meeting 2026-07-23 (AgendaPacket), dated July 23, 2026 from Philadelphia IU 26. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bank of America N.a. hold?

Bank of America N.a. may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Bank of America N.a.'s profile

What is Philadelphia IU 26 currently buying?

Explore Philadelphia IU 26's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Philadelphia IU 26's profile

Bring us your territory.
We'll show you what is forming.

B2G and SLED sales intelligence. Surface government procurement signals from 80,000+ state, local, and education agencies months before the RFP.

Try Civic IQ for free