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Notes to the Expense and Revenue Summary <br />Severance Tax Trust Fund Perpetual Base Account <br />Unreserved Cash Funds FY08 Be~innin~ Balance <br />Unreserved cash in the Severance Tax Trust Fund Perpetual Base Account at the <br />beginning of the state fiscal year is based on the end of period financial information provided to <br />us by the State Treasurer's Office and summarized by Clifton Gunderson, LLP in the Year <br />Ending Financial Statement Compilation Report. <br />Revenue -Annual Estimate <br />Total cash revenue to the Severance Tax Trust Fund Perpetual Base Account is based on <br />three sources of income including principal and interest on existing loans, interest from cash <br />investcd by the State Treasurer, and direct Severance Tax revcnue as distributed into the <br />Severance Tax Trust Fund Perpetual Base Account. <br />Statutory Limitations <br />In considering recommendations for projects to the General Assembly, the Board should <br />be aware of the following criteria and limitations set by statute: <br />1. Section 39-29-109 (1) (a) (I), CRS provides that "...pursuant to sections 37-60-119 and 37- <br />60-122, C.R.S. The authorization and contf•act for each such project shall require repayment <br />of principal and interest to the severance tax trust fund and moneys so repaid shall he <br />credited to the perpetual base account of the severance tax trust fund. " <br />2 <br />