C150160 Feasibility Study

• Contract/PO #: C150160
• Contractor Name: Central Colorado Water Conservancy District
• Contract Type: Loan
• Water District: 0
• County: Adams
• County: Morgan
• County: Weld
• Loan Projects - Doc Type: Feasibility Study

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GROUND WATER MANAGEMENT SUBDISTRICT OF
CENTRAL COLORADO WATER CONSERVANCY DISTRICT
Greeley. Colorado
Notes to Financial Statements
December 31. 2001

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Note 1 - Summary of Sianificant Accountina policies

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On April 23, 1973, pursuant to the applicable provisions of the
:Water Conservancy Act" of the State of Colorado, the District Court
ln and for Weld County, Colorado, approved the creation and
establishment of a subdistrict of Central Colorado Water Conservancy
District to be known as \\ Ground Water Management Subdistrict of
Central Colorado Water Conservancy District," herein referred to as
the Subdistrict. In addition to providing for the conservation of
the water resources of the State of Colorado for the greatest
beneficial use of water within this state, the Subdistrict has
developed a plan of augmentation which will replace the depletion of
the river caused by underground water users in the South Platte River
Basin.

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This summary of the Ground Water Management Subdistrict of Central
Colorado Water Conservancy District's significant accounting policies
is to assist the reader interpreting the financial statements and
other data in this report. The policies are considered essential and
should be read in conjunction with the accompanying financial
statements.

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Reoortina Entity

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The District is an autonomous quasi-municipal entity governed by a
Board of Directors appointed by the District Court of each County.
As required by generally accepted accounting principles, these
financial statements present operations of the Ground Water
Management Subdistrict of Central Colorado Water Conservancy District
(the.primary government) and its component units, if any. Financial
accountabili ty on the part of the Subdistrict over other
organizations would result in the organization or governmental unit
being reported as part of the Subdistrict's financial statements.

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The Subdistrict does not exercise financial control over nor is it
accountable to another entity., The related organization discussed
below was considered in determining the Subdistrict's reporting
entity because of the significance of its operational relationship.

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Related Oraanizations

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The Central Colorado Water Conservancy District is an autonomous
quasi-municipal entity governed by a Board of Directors appointed by
the District Court of each County. The District provides for the
conservation of the water resources of the State of Colorado for the
greatest beneficial use of water within the District. Because shared
facilities and personnel are administrative in nature and there is no
financial interdependency, control or oversight responsibility, the
District is treated as a related organization rather than a component
unit.

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