WAC 392-142-240. Calculation of replacement system payments

To calculate the replacement system payment for a district-owned school bus, the superintendent shall: (1) Assign the school bus to the appropriate category; (2) Divide the current year system price by the system lifetime; (3) Multiply by the total number of past and current year eligible months; (4) Subtract the total amount of all school bus replacement payments made in prior school years (if any); (5) Subtract the assumed interest earnings (if any); and (6) Subtract the salvage value if the current school year is the final year of the school bus's system life.