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Unless said supportive contributions are received before December 31, 2Q1$, the Major <br /> Moves Fund will end the fiscal year with a negative cash pasition. <br /> Government Accaunting Standards Baard ("GASB") pronouncements require the <br /> Auditors in the fiscal period audit ta site the City with a negative audit finding in the <br /> event af such occurrence, regardless af the reasan for the negative cash position. <br /> Council approvai of the Interfund Cash advance, in the event required, will place the City <br /> in compliance of GASB audit requirernents. <br /> If supportive contributions are received prior to December 31, 2018, the Interfund Cash <br /> Advance will not be affected. <br /> The projected amaunt ofthe Interfund Cash Advance is on the order of$0.1 million. <br /> POTENTIAL OBJECTION: <br /> There are na known objections to this resalution request. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> STAFF REFERENCES. <br /> Bi11y Tyus, City Manager <br /> Gregg D.Zientara, City Treasurer&Director ofFinance <br /> BUDGET/TIME IMPLICATIONS: <br /> None. <br /> Page 2 of 2 <br />