Bill would let struggling districts use transportation vehicle funds short‑term under OSPI oversight
SB 6,065 would allow districts in binding conditions or under enhanced financial oversight to take temporary interest‑free loans from their transportation vehicle fund and petition OSPI to convert those loans to permanent transfers if not detrimental to the fund. Sponsors and rural district representatives said the change could help districts avoid insolvency; safeguards and limits were discussed.
The full story
Senate Bill 6,065 would expand authority that previously allowed temporary interest‑free interfund loans from capital projects to also permit such loans from a district’s transportation vehicle fund for school districts in binding conditions or under enhanced financial oversight. The bill also allows districts to petition the Office of Superintendent of Public Instruction to convert a temporary loan to a permanent transfer without repayment if the transfer would not be detrimental to the transportation fund.
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