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<br />5. FISCAL <br />Article VIII E.( 11 of the Compact provides that expenses incident to the <br />administration of the Compact not paid by the United States shall be <br />borne by the states on the basis of 60% to Colorado and 40% to <br />Kansas. Budgets for such expenses are prepared annuallv. and the <br />states are assessed their proportionate share of the budgeted expenses <br />at the beginning of each Fiscal Year (FYI. The Administration's FY runs <br />from July 1 to June 30. The fiscal affairs of the Administration for <br />Compact Year 1992 involve portions of the Administration's FY 1991- <br />92 (11/1/91 to 6/30/92) and FY 1992-93 (7/1/92 to 10/31/921. The <br />Treasurer reported on the financial status of the Administration for the <br />relevant periods of those fiscal years at the Annual Meetings held on <br />December 10. 1991 and December 8, 1992. <br /> <br />At the December 10, 1991 Annual Meeting the following budget <br />actions were taken: <br />. FY 1991-92 budget previously adopted was reviewed and left <br />unchanged with anticipated expenses of $40,550; <br />FY 1992,93 budget previously adopted was revised to reflect <br />anticipated expenses of $46,175; <br />. FY 1993-94 budget was adopted with anticipated expenses of <br />$43,105. <br />Copies of these budgets are included in this report as Appendix A-1 . <br /> <br />At the close of the fiscal year on June 30, 1992 the Administration had <br />a cash balance of $22,382 as shown in the FY 1991-92 Auditor's <br />Report accepted at the December 8, 1992 Annual Meeting. The <br />Auditor's Report is included herein as Appendix A-2. On December 7, <br />1992 the Administration had a cash balance of $48,538 as reported by <br />the Treasurer and shown on Appendix A-3. <br /> <br />7 <br /> <br />""CA1111 <br />