Section 392-121-438 - Emergency advance payments-Approval criteria The superintendent of public instruction shall approve requests for an emergency advance if the following conditions are met:
(1) The unforeseen condition causing the need for the emergency advance could not have been anticipated by a reasonably prudent person.(2) It is probable that if the emergency advance is not made that the school district or charter school will be on: (a) An interest-bearing, warrant-issuing basis within two months following the receipt of the resolution; and(b) Warrant interest for at least three months from September through June.(3) The school district or charter school shall not have: (a) Cash investments of the general fund during the months it estimates that it would pay warrant interest except for the emergency advance; or (b) Inter-fund loans from the general fund to any other funds during the months it estimates that it would pay warrant interest; or(c) Any existing or anticipated general fund revenue anticipated notes.Wash. Admin. Code § 392-121-438
Amended by WSR 15-18-078, Filed 8/28/2015, effective 9/28/2015Statutory Authority: RCW 28A.150.400 and 28A.150.290. 90-19-040 (Order 28), § 392-121-438, filed 9/13/90, effective 10/14/90.