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District Finances » Transportation Vehicle Fund (TVF Fund)

Transportation Vehicle Fund (TVF Fund)

  • The Transportation Vehicle Fund is created per RCW 28A.160.130. The
    Transportation Vehicle Fund is to be used to account for the expenditures for the
    purchase and related debt service incurred for pupil transportation equipment (school
    buses). In addition, major repair and rebuilding of pupil transportation equipment
    (school buses) as defined in WAC 392-142-260 is permitted. To charge major repairs to
    the Transportation Vehicle Fund, a district must receive prior approval from OSPI (Form
    1023).
 
There are three primary sources of revenue for the Transportation Vehicle Fund.
     1)  School bus depreciation, per RCW 28A.150.280.

     2)  Special Transportation Vehicle Fund levies, per RCW 84.52.053.'
      • Because the district keeps buses rotated by purchasing a new bus when one falls off the depreciation schedule, requesting funds from our community through a TVF levy has not been needed.
      • We have been on this rotation cycle for 30+years.
      • This process keeps the District's fleet updated and safe for our students and staff.
   
    3) Bonds. RCW 28A.530.080 authorizes school districts, under certain circumstances, to
         issue bonds without a vote of the people. These non-voted bonds may be deposited
         into the Transportation Vehicle Fund, where the proceeds may be used for the purchase
         of school buses
      • Due to the rotation of the depreciation schedule the District has never elected this process.