Policy Details Page

Policy No. 6021
Management Support

Short-term inter-fund loans between the general fund, the transportation vehicle fund, the capital projects fund or the debt service fund may be used to alleviate a temporary cash deficiency.

Such loans shall not be used to balance the budget of the borrowing fund, nor shall they deter any function or project for which the fund was established.

Interest shall be charged by the loaning fund at a rate not less than the current warrant interest rate in Pierce County.

The board shall adopt a resolution before any inter-fund loan transaction takes place. The resolution shall contain the exact amount of the loan, the funds involved, the specific source of funds for repayment, the schedule for repayment and the interest rate involved.