The superintendent of public instruction shall calculate the emergency advance on the school district's or charter school's basic education allocation as the lesser of:

1. (1) The amount set forth in the school district's or charter school's resolution;
2. (2) An amount not to exceed ten percent of the total amount to become due and apportionable to the district or charter school from September 1 through August 31 of the school year.
3. (3) The highest negative monthly cash and investment balance of the general fund between the date of the resolution and May 31st of the school year less any redirection of a school district's or charter school's basic education allocation to the capital projects fund, debt service fund, or both.

[Statutory Authority: RCW 28A.150.290 and 28A.710.220. WSR 15-18-078, § 392-121-440, filed 8/28/15, effective 9/28/15. Statutory Authority: RCW 28A.150.290. WSR 09-06-038, § 392-121-440, filed 2/25/09, effective 3/28/09. Statutory Authority: RCW 28A.150.400 and 28A.150.290. WSR 90-19-040 (Order 28), § 392-121-440, filed 9/13/90, effective 10/14/90. Statutory Authority: RCW 28A.41.055 and 28A.41.170. WSR 88-03-013 (Order 88-8), § 392-121-440, filed 1/11/88.]