7341 - Inter-Funds Loans Policy

Policy 7341

FINANCIAL MANAGEMENT 

Inter-Fund 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                Inter-fund loans

                                    Through 160

 

 

Adoption Date:           July 23, 1996