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Vancouver School District approves interfund loan from capital projects fund to cover short-term general fund cash needs
Summary
The board unanimously approved a resolution on June 26 permitting an interfund loan from the capital projects fund to the general fund to address short-term cash-flow timing caused by state basic education revenue arriving late in the fiscal year.
The Vancouver School District Board of Directors on June 26 approved a resolution to borrow from the district's capital projects fund to meet short-term general fund cash-flow needs.
Staff recommended the interfund loan after explaining that statewide timing of basic education funding concentrates about 22.5% of state revenue in the last 32 days of the fiscal year. Staff said borrowing from the…
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