CWCB Fact Sheet: Funds for Water Projects

• Description: CWCB Fact Sheet: Funds for Water Projects
• State: CO
• Title: CWCB Fact Sheet: Funds for Water Projects
• Water Supply Pro - Doc Type: Project Overview

COLORADO WATER CONSERVATION BOARD
Fact Sheet: FUNDS FOR WATER PROJECTS
CWCB CONSTRUCTION FUND This "revolving"
fund was established in 1971 to help finance water supply
improvements. This fund has been built from an initial
appropriation of General Funds and distributions from the
federal Mineral Lease Fund as well as the interest earned
on the fund balance and on funds loaned for water projects.
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At the beginning of FY99, total asset value was $204.7M,
including:
♦ $106AM in outstanding loans;
As Colorado continues to
♦ $19.7M obligated by the Legislature for specific
grow, its communities and
projects;
its economy place greater
♦ $72.6M obligated by the Legislature in special
demand upon available
accounts for specific purposes; and
water supplies.
♦ $5.93M in unreserved cash.
FY98 revenues to the Fund were $13.06M ($3.95M in
Assuring adequate water
interest on loans, $4.24M from Mineral Lease Fund
supplies, especially during
distributions, $4.85M in interest earned on the cash balance
periods of drought, will be
of the Fund and a small amount of lease revenue) in.
increasingly complex as we
addition to $2.7M repayment of principal.
approach full utilization of
Colorado's share of
Due to the lack of alternative fund sources for water
interstate rivers and streams.
planning and data collection, the CWCB has also
recommended funding for non - reimbursable projects (in
Better information and
addition to loans). The Legislature has approved these
I
the coordination of existing.
funding recommendations.
water facilities are needed to
SB 99 -173 includes the CWCB recommendations for
meet future needs while
over $20M in new loans and almost $4M for non-
minimizing conflict among
reimbursable investigations, leaving the uncommitted
our communities.
balance in the Fund at approximately 1% of the total asset
The growth of our
value (slightly below $2.2M).
communities also requires
SEVERANCE TAX PERPETUAL BASE
careful planning and
ACCOUNT. This source of loan funds was established in
protection to avoid flood
1996 to help meet the continuing need for additional
damage.
development and maintenance of water supplies. As
required by SB 96 -170, the CWCB follows the same
Securing public support
process for identifying, evaluating and recommending
and regulatory approvals for
water projects to the Legislature as it does for the CWCB
new projects requires careful
Construction Fund. Each year since 1996, the CWCB has
protection of ecological
been able to loan the full amount of available funds:
health and recreation
♦ $4.OM in SB 97 -008 (Eagle County); [OVER]
opportunities based upon the
best available science.