7340 - Interest on Short- Term Debt Policy

Policy 7340

FINANCIAL MANAGEMENT 

Interest on Short-Term Debt
The district shall maintain resources adequate to meet obligations without borrowing from other funds or incurring interest obligations as a result of the county treasurer having to register warrants as interest bearing because the fund upon which they are drawn is insufficient to pay them.  When necessary, inter-fund loans shall be used as a revenue source in preference to incurring interest obligations to others.

 

 

Legal References:       RCW   28A.505.150               Budgeted expenditures as appropriations –
                                                                                                Interim expenditures – Transfer
                                                                                                between budget classes – Liability
                                                                                                for non-budgeted expenditures

                                    RCW   39.56.020                    Rate on municipal warrants

 

Adoption Date:           July 23, 1996