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South Platte water Related Activities Program, Inc. <br />220 Water Avenue, Berthoud, Colorado, 80513 <br />Meeting Minutes of the Interim Board of Directors <br />June 21, 2007 <br />1. Call to Order <br />Lisa Darling for President David Little called the Interim Board of Directors meeting at Denver <br />Water to order. There was a quorum of Directors. <br />2. Additions to the agenda. <br />Ted Kowalski asked if time allowed discussing current water activities such as leasing water for <br />the Future Depletion Replacement Plan in May and June 2007. <br />3. Minutes of the April and May 2007 board meetings were adopted. April minutes were adopted at <br />this June meeting because there was not a quorum at last month's meeting. <br />4. Dennis Harmon presented the financial report with a handout. There is $5,284.96 in checking <br />and $1,421,304.35 in money market. Other items pointed out were a receipt of $48,960.00 from <br />the City of Westminster and a May interest payment on the money market of $4,881.95. Lisa <br />Darling noted that Aurora's payment has been approved and will be forthcoming. Dennis <br />discussed going with the Vanguard group to increase interest payment. Dennis presented a <br />handout/proposal from Hunt, Spillman & Associates CPA of Ft. Collins to provide financial <br />services to SPWRAP —they recently completed the SPWRAP Federal Non - profit Tax Form 990. <br />The Board approved this proposal from the CPA. The Board approved payments to Trout, Raley, <br />et al for legal services of $6,012.10 and Hunt/Spillman for tax form preparation of $650. <br />Kevin Urie discussed printing expenses for SPWRAP stationary with letterhead and envelopes <br />totaling about $1,200. Lisa Darling mentioned that the City of Aurora print shop might be able to <br />save some dollars. Final decision on printing will be held off until a permanent SPWRAP <br />address is know. Currently the address of Northern Water is utilized. Also discussed was the <br />location to store SPWRAP documents and the schedule and need for hiring a SPWRAP executive <br />director. This discussion will continue at future meetings. <br />6. Duck's Unlimited (DU) NAWCA Grant Funding. <br />Greg Kemohan of DU was present and discussed that the South Platte Lower River Group <br />(SPLRG) was providing $35,000 from a $150,000 CWCB grant toward the Heybome NAWCA <br />(North American Waterfowl Conservation Act) recharge /waterfowl project near the Colorado <br />Nebraska Stateline. A request has been made for SPWRAP to contribute $8,000 to the project. <br />This request for $8,000 was approved. <br />Greg also made a power point presentation to the Board on DU activities and future partnering of <br />SPWRAP and DU on a 2007 -2008 $1M NAWCA grant for recharge /waterfowl projects on the <br />lower S. Platte River in Colorado. To obtain the $1M from NAWCA, Greg is putting together <br />$2.6M in matching funds from various partners for cash, land easements, and services. Greg <br />proposed that SPWRAP consider contributing $0.5M over the next two years. He is also making <br />a presentation to the South Platte Roundtable Committee for a $0.5M contribution from their <br />SB 179 funds. These contributions from SPWRAP and SB 179 funds will develop recharge <br />projects that provide some of Colorado's water contribution to the PRRIP. After Greg left the <br />meeting, the Board discussed this request and a potential draft commitment letter in July. Jon <br />Page 1 of 2 <br />