Policy Number


Policy Category

Budget and Finance

Policy Title

Interfund Loans

Loans from one fund to another shall conform to the requirements of ORS 294.4680 and be authorized by the Board of Education. Interfund loans may not be from: a Debt Service fund, a Financial Aid fund, employee/retiree benefit funds, or funds legally restricted to specific uses. Repayment of the loan must be budgeted according to an approved schedule and at a stated rate of interest.

The full repayment of interfund loans shall occur no later than:

  • five years from the date of the loan, if the funds are to be used to acquire or improve real or personal property, or
  • June 30 of the fiscal year following the year in which the loan was authorized, if the funds are to be used for operating purposes.

Adopted:   June 9, 2004
Reviewed: May 9, 2007
Reviewed: December 2, 2009
Reviewed: January 9, 2013
Reviewed: October 12, 2017