22b

• Board Meeting Date: 11/19/2008
• Description: CF Section - Estimate of Funds Available for New Projects in 2009 - Severance Tax Trust Fund Perpetual Base Account
• Board Meetings - Doc Type: Memo

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.state.co.us
T0: Colorado Water Conservation Board Members
FROM: Mike Serlet, P.E., Chief
Water Supply Planning and Finance Section
DATE: November 7, 2008
SUBJECT: Agenda Item 22b, November 18-19, 2008 Board Meeting
Water Supply Planning and Finance Section
Estimate of Funds Available for New Projects in 2009
Severance Tax Trust Fund Perpetual Base Account
Bill Ritter, Jr.
Governor
Harris D. Sherman
DNR Executive Director
Jennifer Gimbel
CWCB Director
Dan McAuliffe
Deputy CWCB Director
Introduction
This financial information is for the Board's use in evaluating the availability of
additional funds from the Severance Tax Trust Fund Perpetual Base Account for new loans to
finance future water prof ects.
Background
The information for the Severance Tax Trust Fund Perpetual Base Account is based on
the closing reports for the fiscal year ended June 30, 2008. A total of approximately $68.0
million is projected as available for modifications to previous loan authorizations and new
construction project loans in 2009.
Discussion
Attached is a financial projection summarizing the FY 2008-09 Severance Tax Trust
Fund Perpetual Base Account cash available and projected expenses. Total revenue available for
new projects and other expenses is $68.0 million. Projected expenses are approximately $52.6
million, leaving a projected balance of approximately $15.4 million. This number includes loan
proj ects presented at the November Board meeting.
Conclusion
As of the date of this memo, it appears sufficient cash will be available to fund the
applications shown on the attached list.
Water Supply Protection • Flood Protection • Stream ~ Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • Intrastate Water Management & Development