Vancouver School District approves interfund loan from capital projects fund to cover short-term general fund cash needs
June 27, 2025 | Vancouver School District, School Districts, Washington
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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 district's capital projects fund is less costly and administratively simpler than outside short-term options previously relied on, such as county registered warrants.
Staff member Blochschmidt told the board, "22.5% of our state revenue is delivered in the last 32 days of our fiscal year," and described that pattern as a recurring challenge for the district's cash flow. He said the capital projects fund currently holds newly deposited funds not immediately needed for capital work and that an internal interfund loan would avoid an external administrative fee and permit the district to return the money to capital when cash flow normalizes.
A motion to approve the resolution was moved and seconded; the board then took a roll-call vote. Director Sproul, Director Smith, Director Barrows and Director Zavala Ortega each voted "approve," and the motion carried.
Directors thanked staff for the financial planning and expressed a desire for state funding to be delivered earlier in the fiscal year. The board chair said the district will continue to monitor state funding timing and the district's fund balance.
The board adjourned after the vote. The district's next regular meeting is July 8 and will be held in person.
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 district's capital projects fund is less costly and administratively simpler than outside short-term options previously relied on, such as county registered warrants.
Staff member Blochschmidt told the board, "22.5% of our state revenue is delivered in the last 32 days of our fiscal year," and described that pattern as a recurring challenge for the district's cash flow. He said the capital projects fund currently holds newly deposited funds not immediately needed for capital work and that an internal interfund loan would avoid an external administrative fee and permit the district to return the money to capital when cash flow normalizes.
A motion to approve the resolution was moved and seconded; the board then took a roll-call vote. Director Sproul, Director Smith, Director Barrows and Director Zavala Ortega each voted "approve," and the motion carried.
Directors thanked staff for the financial planning and expressed a desire for state funding to be delivered earlier in the fiscal year. The board chair said the district will continue to monitor state funding timing and the district's fund balance.
The board adjourned after the vote. The district's next regular meeting is July 8 and will be held in person.
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