WAC 392-121-440. Emergency advance payments — Determination of amount

The superintendent of public instruction shall calculate the emergency advance on the school district's or charter school's basic education allocation as the lesser of: (1) The amount set forth in the school district's or charter school's resolution; (2) An amount not to exceed ten percent of the total amount to become due and apportionable to the district or charter school from September 1 through August 31 of the school year. (3) The highest negative monthly cash and investment balance of the general fund between the date of the resolution and May 31st of the school year less any redirection of a school district's or charter school's basic education allocation to the capital projects fund, debt service fund, or both.