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1 <br /> 3 <br /> Colorado Water Conservation Board <br /> Construction Fund Loan Program <br /> Performance Audit, September 1998 <br /> Evaluation of Actions Taken by the Board <br /> As of December 1999 <br /> In 1998 the Office of the State Auditor conducted a performance audit of the Colorado Water <br /> Conservation Board's(CWCB)Construction Fund Loan Program. The purpose of the audit was to <br /> evaluate various aspects of the Program,including funding,loan application and review processes, <br /> accounting, and recordkeeping activities. <br /> The September 1998 audit report included 18 recommendations. Below is a summary of the report <br /> narrative,the recommendations,the CWCB's original responses,the CWCB's discussion of actions <br /> taken since the audit,and our evaluation of those actions. Because many of the actions taken by the <br /> Board in response to the audit occurred in the fall of 1999,most of our recommendations have not <br /> been fully implemented. Of the 18 recommendations, 1 is implemented, and the remaining 17 are <br /> in progress. The Board has, however, made some notable progress in a couple of areas. For <br /> example,in Fiscal Year 2000 the Board received some additional funding to hire an accountant and <br /> a contract compliance officer. These additional staff should help the Board correct certain <br /> accounting and administrative deficiencies that were noted in the report. The Board also adopted <br /> several new policies in October 1999 in response to some of the issues brought forth by the audit <br /> report. The following sections provide more detailed information about the status of each individual <br /> recommendation. <br /> Establish Goals and Objectives for the Program <br /> IIn the 1998 audit we identified a number of problems with how the Construction Fund Loan Program <br /> was managed and operated. Improvements were needed in loan processing, fiscal management, <br /> performance measurement,accounting, statutory compliance,contracting,and recordkeeping. We <br /> concluded that in order to improve program management,it was crucial for the Board to develop and <br /> report on the achievement of goals, objectives, and performance indicators for its day-to-day <br /> operations. <br /> Recommendation No. 1 (September 1998): <br /> The Water Conservation Board and its staff should set forth goals and objectives for managing the <br /> Construction Fund Loan Program and closely monitor the progress of implementing procedures that <br /> will improve Program operations. Also,the Board should make periodic reports on the progress of <br /> I <br /> I <br />