21 ‎(4)‎

• Board Meeting Date: 3/18/2008
• Description: CF Section - Severance Tax Trust Fund Operational Account Recommendations
• Board Meetings - Doc Type: Memo

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Sheet. Room 721
Dem~er, Colorado 80203
Phone: [phone]
Fax: [phone]
v`uu-. ccvcb. state. co.us
Bill Ritter, Jr.
Governor
TO: Colorado Water Conservation Board Members xarris D. Sherman
DNR Executive Director
FROM: Dan McAuliffe Jennifer L. Gimbel
Steve Biondo cwcB Director
Dan McAuliffe
DATE: March 10, 2007 eweB Depnty Director
SUBJECT: Agenda Item 21, Match 18 - 19, 2008, Board Meeting -
Severance Tax Trust Fund Operational Account Recommendations
After July 1995, one-half of the severance tax receipts credited to the Severance Tax Trust Fund are
credited to the Operational Account of the Severance Tax Trust Fund. The programs supported by
the Operational Account must promote natural resource planning, management, and development
related to minerals, energy, geology, and water.
The General Assembly fnay appropriate funds to the following agencies from the total amount of
money in the Operational Account as follows:
Colorado Oil and Gas Conservation Commission 45%
Colorado Geological Survey 20%
Division of Reclamation, Mining and Safety 30%
Colorado Water Conservation Board 5%
CWCB requests are reviewed by CWCB and are then forwarded to the state Minerals, Energy and
Geology Policy Advisory Board (MEGA Board) for review and approval. MEGA Board
recommendations are then forwarded to the Department of Natural Resources (DNR) Executive
Director for further review and inclusion in the DNR's annual budget request.
The use of these moneys requires about 15-18 months advance planning. Information about our
application process is available on our web site.
In the current Fiscal Year (2007 - 2008), CWCB received requests for funding totaling $2,081,500;
we received $1,275,500. For Fiscal Year 2008 - 2009, CWCB recommended $2,134,500 in funding
and we expect to receive $1,275,500. This money is appropriated through the Long Bill.
Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • Intrastate Water Dlanagement & Development