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Background/Discussion <br /> Based on the above referenced Policy #14, a pplications for non-reimbursable investments <br />from the Construction Fund are received each year on or before August 31. The approval <br />procedure for these applications includes a re view of all applications by the CWCB Finance <br />Committee prior to the September Board meeting. The Committee then recommends to the full <br />Board at the November Board meeting to either approve an application without further review <br />(commonly referred to as “En-Bloc”) or reco mmend the application for a full Board discussion <br />(commonly known as a “Referred” item). <br />st <br />The time between August 31 and the time when Board notebooks are mailed to Board <br />members for the September meeting is typically less than 10 days (this year it will be 8 days). <br />Staff has found that 10 days, or less, is not enough time to adequately review all the applications, <br />prepare recommendations, make copies of all a pplication materials, and prepare the Finance <br />Committee notebooks for mailing. An application deadline of August 1 will give staff a more <br />reasonable time to prepare all necessary applic ation documents for Board review. Making the <br />revision now will also allow this year’s applican ts at least two and one half months advanced <br />notice in order to prepare th eir applications by August 1. <br />Recommendation <br /> Staff recommends the Board approve a revision to CWCB Financial Policy #14 – <br />Approval and Prioritization of Construction Fund Applications for Non-Reimbursable Project <br />Investments, to change the deadline for receipt of non-reimbursable investment applications from <br />August 31 of each year to August 1 of each year, as shown on the attached revised policy. <br /> <br />2 <br />