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6021 - Interfund Loans

BOARD POLICY No. 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.

Legal References:

RCW

28A.505.150

Budgeted expenditures as appropriations -- Interim expenditures -- Transfer between budget classes -- Liability for non-budgeted expenditures

WAC 

392-123-135

through 160 Interfund loans

 

First Reading Date: February 19, 2002

Adopted by the Board: July 16, 2002

WALLA WALLA PUBLIC SCHOOLS • 364 South Park St. • Walla Walla, WA 99362 • Phone: 509-527-3000 • Fax: 509.529.7713

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