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S'.-' <br />Temporary Cash Advance from the PIR Fund to the MSA Fund <br />During 1996 the City had several Municipal State Aid Fund (MSA) construction projects <br />in process which are being funded in whole or in part by municipal state aid. However, <br />until the projects are closed out and the fmal revenues from state aid, other frmds, or other <br />funding sources, such as the special assessments levied for the Highway 12 - Willow <br />Drive project, are completed, it is necessary to advance cash from the PIR Fund to the <br />MSA Fund to eliminate the temporary cash deficit of $157,800 in the MSA Fund at <br />December 31,1996. Certain amounts will be received in 1997 for the Willow Drive and <br />the Old Crystal Bay Road Trail; some amounts will be collected over a longer period, <br />such as the special assessments; and some costs not eligible for MSA reimbursement will <br />need to be covered by other City funds. The advance will be paid back as soon as <br />possible. <br />COUNCIL ACTION REQUESTED: Approval of the 1996 budget amendments for the <br />General and Special Revenue Funds as presented; and approval and authorization of the <br />cash advance of $157,800 from the PIR Fund to the Municipal State Aid Fund, to be <br />effective December 31,1996. <br />PROPOSED MOTION: - Moved by., seconded by._, to approve the 1996 <br />General and Special Revenue Funds budget amendments as presented; and to approve <br />and authorize a cash advance of $157,800 as of 12/31/96 from the PIR Fund Contingency <br />Account to the Municipal State Aid Fund, to be repaid from collection of state aid, <br />special assessments, and other flmding sources. Ayes___, Nays ___. <br />J