6021 Interfund Loans
Inter-fund loans between the General Fund, the Transportation Vehicle Fund, the Capital Projects Fund, or the Debt Service Fund may be used to alleviate a temporary cash deficiency.
Such loans shall not be used to balance the budget of the borrowing fund, nor shall they deter any function or project for which the fund was established.
The Board must adopt a resolution before any inter-fund loan transaction takes place. The resolution shall contain the exact amount of the loan, the funds involved, the specific source of funds for repayment, the schedule for repayment, and the interest rate involved.
RCW 28A.505.150 Budgeted expenditures as appropriations — Interim expenditures — Transfer between budget classes — Liability for non-budgeted expenditures
WAC 392-123-135 Inter-fund loans through 160
Adoption Date: 12/9/08
Franklin Pierce Schools