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TABLE OF CONTENTS <br />EXECUTIVE SUMMARY ......................................... ............................... ............................ <br />I. <br />The Current Drought and the Future of Water Management in Colorado ................... 1 <br />A. <br />Background and Brief Overview .................................................. ............................... 1 <br />B . <br />Water in Colorado ......................................................................... ............................... 1 <br />C . <br />The Value of Water ....................................................................... ............................... 2 <br />D. <br />The Status of Colorado's Water Economy and Principles for Future Management.... 2 <br />E . <br />The Remainder of the Report ........................................................ ............................... 3 <br />II. <br />Hydrologic Description of the Drought ........................................ ............................... <br />5 <br />A. <br />Conditions in the Spring of 2002 .................................................. ............................... 5 <br />1 . <br />Snowpack ................................................................................... ..............................5 <br />2. <br />Reservoir and Streamflow Conditions in the Spring ................ ............................... 7 <br />B. <br />Reservoir and Streamflow Conditions in Mid - Summer ............... ............................... 8 <br />1 . <br />Streamflow ................................................................................. ..............................8 <br />2 . <br />Reservoir Storage ...................................................................... ............................... 9 <br />III. <br />Economic Impacts of the Drought .............................................. ............................... <br />13 <br />A . <br />Background ................................................................................. ............................... <br />13 <br />B . <br />Agriculture .................................................................................. ............................... <br />13 <br />1. <br />Dry Land and Irrigated Agriculture in Colorado's Economy . ............................... <br />13 <br />2. <br />Agricultural Costs of the Drought .......................................... ............................... <br />14 <br />3. <br />Overall Effect of Agricultural Losses on State's Economy .... ............................... <br />15 <br />C . <br />Tourism ....................................................................................... ............................... <br />16 <br />1 . <br />Ski Industry ............................................................................. ............................... <br />16 <br />2 . <br />Water- Dependent Tourism ..................................................... ............................... <br />16 <br />3 . <br />Other Tourism Sectors ............................................................ ............................... <br />17 <br />D . <br />Forest Fires ................................................................................. ............................... <br />17 <br />E. <br />Urban Landscape and Municipal Water Supply ......................... ............................... <br />18 <br />F. <br />Total Cost and Avoidable Cost ................................................... ............................... <br />19 <br />IV. <br />Drought Responses of Major Water Management Systems ....... ............................... <br />21 <br />A . <br />Background ................................................................................. ............................... <br />21 <br />B. <br />An Example of a Municipal Drought Management Plan: Denver Water .................. <br />21 <br />C. <br />Drought Response of Other Municipal Users ............................. ............................... <br />23 <br />D . <br />Irrigated Agriculture ................................................................... ............................... <br />25 <br />E . <br />Recreation ................................................................................... ............................... <br />25 <br />F. <br />Effectiveness of Drought Plans ................................................... ............................... <br />26 <br />V. <br />The Role of New Storage in Managing Colorado Water: A Basin -by -Basin <br />Assessment.................................................................................. ............................... <br />31 <br />A . <br />Introduction ................................................................................. ............................... <br />31 <br />B . <br />Is Storage the Answer? ............................................................... ............................... <br />33 <br />C. <br />Overview of Current Water Development Projects .................... ............................... <br />34 <br />1 . <br />Arkansas Basin ....................................................................... ............................... <br />35 <br />2 . <br />South Platte Basin ................................................................... ............................... <br />36 <br />3. <br />Colorado River Basin .............................. ................................ ............................... <br />39 <br />i <br />