Washington Code 28A.505.130 – Budget — Requirements for balancing estimated expenditures
Current as of: 2023 | Check for updates
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For each fund contained in the school district budget the estimated expenditures for the budgeted fiscal year must not be greater than the total of the estimated revenues for the budgeted fiscal year, the estimated fund balance at the beginning of the budgeted fiscal year less the estimated reserve fund balance at the end of the budgeted fiscal year, and the projected revenue from receivables collectible on future years as approved by the superintendent of public instruction for inclusion in the budget.
Terms Used In Washington Code 28A.505.130
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Revenue: means an addition to assets of a fund of a school district during a fiscal period that is available to finance the fund's expenditures during the fiscal period. See Washington Code 28A.505.010
The proceeds of any interfund loan must not be used to balance the budget of the borrowing fund, except in fiscal year 2024 when such loans may be used to address budget destabilization in the aftermath of the COVID-19 pandemic. Interfund loans in fiscal year 2024 may be for a duration of two years.
[ 2023 c 435 § 11; 1983 c 59 § 9; 1975-’76 2nd ex.s. c 118 § 13. Formerly RCW 28A.65.460.]
NOTES:
Effective date—2023 c 435: See note following RCW 43.79.570.
Application—Effective date—Severability—1983 c 59: See notes following RCW 28A.505.010.
Severability—1975-’76 2nd ex.s. c 118: See note following RCW 28A.505.010.