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WSP09943
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Last modified
1/26/2010 2:56:37 PM
Creation date
10/12/2006 4:02:16 AM
Metadata
Fields
Template:
Water Supply Protection
File Number
8442.900
Description
Missouri Basin - Pick Sloan Project - Project Funding
State
CO
Basin
South Platte
Water Division
1
Date
7/1/1978
Title
Review of Repayment Status of Pick-Sloan Missouri Basin Program and Individually Authorized Projects Bureau of Reclamation
Water Supply Pro - Doc Type
Report/Study
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<br />4,.,.10.....1. ...O..~ ,,",0. lO <br />JI,U..J' l'''~ eDITION <br />4S,," ',""lit !.I aPl'U !(lJ.ll.4 <br /> <br />" <br /> <br />t.'NITIIl STATES caVERN~iLYI' <br /> <br />Memorandum <br /> <br />'" <br /> <br />1'0 <br /> <br />Assistant Se<:retsr,--Land and ''/atar' Resoureas <br /> <br />DAn: July 19, 1978 <br /> <br />rn.OM <br /> <br />Acting Diraetor or Audit and Investigation <br /> <br />StnlJECT: Audit Repor1:, "Reviaw or RepaY1llenc S tetus or Pick-Sloan ,tissouri Basin <br />Program and !nd:l!vidually AutJlorized proj ects, Bureau of Red.am.aeion" <br /> <br />The enclosed repore concludes chat basic changes in ilIethodology ror <br />financial management of Pick-Sloan are esseneiel. Absent these, ~e <br />believe that the Depart:nent or the Interior, the Departnenc of Energy, <br />and the Congress will never have adequate info~cion on 'Nhich to judge <br />the actual operacing results, repaY1llent pocential, or the faasibilicy <br />of authorizing or' reauthorizing additional developma~t or Pick-Sloan. <br /> <br />The principal point advanced in the report is that the project's finan- <br />cial posture is based on a concepe of "ultimace development" and repay- <br />ilIent extending well ineo che 22nd century. Becsuse ilIeny of the project <br />components, pareicularly its irrigation reatures, have not been author- <br />ized and may never be built, ~e conclude ~~at current assumptions are <br />unrealiseic and do noe provide a reliable basis for either measuring the <br />project's financial position or determining che races to charge for pow~r <br />end M&! waear ~ W'e also raise questions rela1:ing to (1) some or the <br />analytical techniques currantly used ,~~~ ~~e concept of ultimate devel- <br />opment in calculating che project's abili~ co repay the Federal invese- <br />ment, and (2) the viabilicy of the power repaY1llent study as a basic <br />financial management cool. <br /> <br />We are recommending a complete reassessment of c~is project to provide a <br />:nore realiseic basis for making financial decisions. Initially, chis will <br />involve development of n~N assumptions conce~ing the projact fea~xres to <br />be built and ~~e anticipated time frames involved. Repayment analyses <br />should be based on much shorcer tue spans c~an l:..'1ose used under t~e <br />"ul::i.:nat:a develo-pmenc/1 conce,?c. <br /> <br />A.. dra:Et of Qis =a-po-r~ r.Jas t-..lQishea. to e:J.e 3ut'a,au of 3.ecl.ama-ciotl. "Ill nile <br />:~e 3uraau. ag::aed ~~a~ =~asses~n: o:;as needed, i= Coonnuen-ce-d :hac :he <br />;nassive t"easseSS'il1e!lC 'qe ~ave in ~d r,;ould be ?"t"amat'..lt'e a.nd fr.li.:less i.: <br />lJnder-cuan now. The 3u:t'a.au ci. ced :""e o:umero'US -llIlcar-:ai:l cias su=~ounci:'.u.g <br />ce ?t"ojec-c and ::he d.i,::::,c'..l1..::!.es uV'olveci. :.a ger-:..::rc:!..::.g c:"e t"'aasseSSletl!:. <br /> <br />. <br /> <br />rne 3uraau of 1ecl~~~~n bel~eves cnac a :i=s~ 3tS? is :0 s~~k :he <br />Solici.:o!"s' ti.~.Js on w-nat, it any, legal :.:r:ped~enc3 ~::'a ~vol~led i..::. <br />adcirsssi.::.g some of ~~e ~acommendations. A ~ay :2, L97S ~emorandum ~~om <br /> <br />. <br /> <br />1 <br /> <br />Buy U.S. Sa:J1ng! BonaJ R:glli.niy an th. Payroll Sa1l1ngJ Plan <br /> <br />~ <br /> <br />
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