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County attorneys propose $40,000 interfund loan to help Noxious Weed Control Board bridge cash flow
Summary
Staff presented a resolution authorizing a one-time interfund loan of $40,000 from the county general fund to the Spokane County Noxious Weed Control Board with interest set at the U.S. Treasury rate plus 1% (calculated at 4.47%); item will appear on next Tuesday’s consent agenda for formal action.
County legal and finance staff told the Board of County Commissioners on Feb. 3 that the Spokane County Noxious Weed Control Board requested a short-term loan to cover operating expenses until assessment revenues arrive. The weed board originally requested $75,000 but revised the need to $40,000.
Staff explained the weed board lacks statutory authority to borrow from the county’s skip pool, so the proposed resolution would use the county commissioners’ authority to provide funding from the general fund. The loan would be repaid in one payment (expected in May) and carry interest equal to the United States Treasury rate plus 1% (the treasurer’s office calculated the applicable rate at 4.47%).
County staff said the resolution will be placed on next Tuesday’s legislative consent agenda for formal board action.
Why it matters: The loan temporarily addresses operating cash shortfalls for the weed board and illustrates county-level legal and fiscal constraints around intra-county borrowing authority.
What’s next: The resolution will be presented for formal approval on the next consent agenda; staff indicated this is a one-time request.
