HomeMy WebLinkAboutResolution 18-086-CCBOARD OF COUNTY COMMISSIONERS
Grant County, Washington
RESOLUTION APPROVING AN RESOLUTION No. 18- o -CC
INTERFUND LOAN BETWEEN GRANT
INTEGRATED SERVICES TO DIRECTIONS
IN COMMUNITY LIVING
WHEREAS, Grant County Policy 1503.3.3 states that "The Board of County Commissioners
may approve a short-term interfund loan or use of one-time revenue sources to address temporary gaps in
cash flow... "; and
WHEREAS, Directions in Community Living (Fund 125) recognizes that it is fiscally
responsible for repayment to Department Social and Health Services Aging and Disability Services in the
amount of $144,089.62.00 due to under-utilized ISS hours. And, Directions in Community Living does
not have sufficient cash flow required to pay this amount in a lump sum; and
WHEREAS the State Auditor's Office has set out guidelines within the Washington State BARS
Manual and Grant County has an Interfund Loan policy approving Interfund Loans as an acceptable
option when meeting the minimum acceptable procedures for making and accounting for interfund loans;
and
WHEREAS Grant Integrated Services (Fund 108) has sufficient funds to provide an interfund
loan to Directions in Community Living for the amount of $1245000.00. Said amount is to be repaid
according to the attached payment plan, Exhibit A. This loan shall be at the rate of 2.015% interest and is
repayable in less than three (3) years.
NOW THEREFORE, BE IT RESOLVED that the Board of County Commissioners of Grant
County approve this interfund loan.
�7
I' f
DATED this day of M.� , 2018.
Yea Nay
ATTEST: M F�
Barbar J. VlBard
uez, CMC
Clerk the ❑ ❑
BOARD OF COUNTY
COMMISSIONERS
Abstain GRANT COUNTY, WASHINGTON
F� Richard Stevens, Chair
El T Taylor, Vi e -Chair
F� Cindy Carter, Member
N:\Staff\BVasquez\Resolution-Ordinance\Grant Integrated Services interfund loan to Directions
in Community Living 091118.docx
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