Bill > HB2593

This bill, by adding new sections to chapter 28A.505 of the Revised Code of Washington (RCW), establishes new financial monitoring requirements for school districts. Starting with the 2027-28 school year, school districts whose general fund balances fall below specific thresholds will be placed on formal financial monitoring for one year, with the possibility of extensions. These thresholds are set at six percent of the prior year's state apportionment for districts with 2,000 or more average full-time equivalent students, and at least eight percent for those with fewer than 2,000 students. Districts under this monitoring must comply with enhanced reporting requirements, including submitting monthly financial data to the Office of the Superintendent of Public Instruction (OSPI) starting in the 2028-29 school year, detailing expenditures, revenue, cash balances, and debt transactions. The OSPI will provide technical assistance to these districts to help them avoid stricter financial conditions and will specify in financial health indicators whether a district has failed to meet its fund balance threshold. The OSPI is also authorized to adopt rules to implement these new provisions.

Budget and Finance, Education

https://app.leg.wa.gov/billsummary?BillNumber=2593&Year=2025&Initiative=false