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SBIAA <br />March 13, 2000 <br />Page 2 <br />Financial Impact: <br />The cumulative advances to SBIAA are treated as a loan receivable in the City's financial <br />statements. Presently, there are no budgetary or income statement impacts as a result of <br />these advances. However, absent any approved repayment plan in the near future, it is <br />possible that the City's auditors may reclassify the balance due to the city as a reservation of <br />fund balance. Likewise, any future advances beyond such reclassification would be treated <br />as a General Fund appropriation/expenditure. <br />Environmental Impact: <br />None <br />Recommendation: <br />Staff recommends that City Council provide direction to staff regarding payment of the <br />remaining two invoices, totaling $20,400, to the SBIAA. <br />