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<br />. <br /> <br />C> <br />f\.) <br />w <br />w <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />'. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />OJIDRAOO RIVER BlISIN SALINITY CONTROL FORUM <br />Notes to Financial statements <br />June 30, 1990 <br /> <br />(11 Accountim Policies <br /> <br />'Ibis S1.lITaI1arY of significant accounting policies of Colorado River <br />Basin Salinity Control Forum (the Forum) is presented to assist in <br />understaming the Forum's financial statements. '!he financial <br />statements and notes are representations of the Forum's management, <br />which is responsible for their integrity and objectivity. '!hese <br />accounting policies conform to generally accepted accounting <br />principles, and have been consistently applied in the preparation of <br />the financial statements. <br /> <br />Accountim Basis <br /> <br />Assets and liabilities, and revenues and expenses are <br />recognized on the accrual basis of accounting. For the year <br />errled June 30, 1990 all revenues earned and expenses incurred <br />have been received or paid, therefore, there are no a=ued <br />receivables or payab1es at that date. <br /> <br />Oraanization and Puroose <br /> <br />In part, as a result of Public Iaw 92-500, the Forum was <br />established in 1973 as mechanism for interstate cooperation and <br />to develop water quality starxiaI:ds. Section 303 of the Clean <br />Water Act requires that these water quality starxiaI:ds be <br />reviewed from time to time, but at least once l!Nery three <br />years. <br /> <br />'!he Forum is composed of up to three water resource and/or <br />water quality representatives from each of the seven Colorado <br />River Basin states, appointed by their respective governors. <br /> <br />'!he seven-state Forum, prepares a review of water quality <br />starxiaI:ds, including numeric =iteria and the plan of <br />~lementation developed by the Forum to maintain water quality <br />of the Colorado River. <br /> <br />'!he Forum has contracted with a hydrological engineer to act as <br />executive director of the Forum. '!he executive director <br />provides a focal point of contact for the forum in dealing with <br />salinity problems of interstate significance. <br />