Laserfiche WebLink
1 � <br /> 1 <br /> 5. Accept cost share funds, depletion charges and donations to finance and implement <br /> Recovery Program activities, including the acquisition of water rights, pursuant to the <br /> RaPAP, LRP or annual work plan. Said funds shall be deposited into segregated <br /> interest bearing accounts that are separate from other appropriations or funds from <br /> other sources for the UCRIP and SJRIP. The State funds will be invested only in U.S. <br /> Treasuries and other Federal agency obligations guaranteed as to principal and interest <br /> by the United States Government. <br /> 6. Appoint a project officer for all contracts or projects carried out or funded under this <br /> Contract. <br /> 7. Coordinate and report to the State on activities of the Foundation with respect to the <br /> UCRIP and SJRIP, including providing an annual accounting to the UCRIP <br /> Implementation Committee and SJRIP Coordination Committee On all funds <br /> maintained, received, and/or expended pursuant to this Contract. <br /> 8. Financial Administration <br /> a. The Foundation shall be paid an administrative fee for the services provided. The <br /> administrative fees collected by the Foundation pursuant to this agreement shall be <br /> accounted for as part of the funds contributed by Colorado toward Colorado's <br /> allocation of the state cost-share contribution specified in Public Law 106-392 <br /> described herein. The fee is based upon the cost of services performed by the <br /> Foundation on behalf of the State and will represent the State's full obligation for <br /> support provided by the Foundation. The parties agree that an administrative fee of <br /> 3 percent of the funds received each year will be assessed or invoiced at the time <br /> funds are deposited with the Foundation. The administrative fee shall cover all <br /> expenses and administrative charges associated with carrying out its obligations <br /> under this Contract except as specifically may be provided for herein. The <br /> Foundation will provide quarterly reports and statements, as appropriate, that <br /> itemize all funds maintained, deposited, accrued, and disbursed from the accounts <br /> established pursuant to this Contract and other expenses/activities as appropriate. <br /> Upon review(which will not exceed 30 days), the State will either approve the <br /> report or request modifications to the report and accounts. <br /> b. The Foundation will prepare and submit to the State quarterly reports for the <br /> periods January i to March 31, April i to June 30, July 1 to September 30_and <br /> October 1 to December 30 of each year. Quarterly reports are due 45 days <br /> following the end of the quarter. One of the reports will be a coordinated UCRIP, <br /> SJRIP and states' report as discussed in 3.B.5. <br /> B. State Obligations—The State, in cooperation with the UCRIP and SJRIP,will: <br /> 1. Identify, from the list of Capital Construction Projects included in the UCRIP and <br /> SJRIP approved work plans, those that should be funded through the Foundation with <br /> Recovery Program cost share funds. Use of funds for any Capital Construction Project <br /> initiative will be approved and coordinated by the UCRIP and SJRIP,with the <br /> Foundation. <br /> 5 <br />