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I <br /> Report of The Colorado State Auditor 11 <br /> Severance Tax Perpetual <br /> Base Fund Revenues <br /> Fiscal Year Total Revenues <br /> 1994 $ 106,000 <br /> 1995 $ 997,000 <br /> ' 1996 $2,480,000 <br /> 1997 $6,319,000 <br /> Source: Department of Local Affairs. <br /> Prior Audits of the Construction Fund Loan Program <br /> The State Auditor conducted a performance audit of the Construction Fund Loan <br /> Program in 1993. Issues discussed in the 1993 report included establishing Program <br /> goals,developing a long-term financial planning process,and making changes to the <br /> Board's fiscal policies. The disposition of the 1993 audit recommendations is <br /> included in Appendix A of this report. <br /> This audit report describes our recommendations to improve Program management, <br /> loan application and review, and loan administration. <br /> • <br /> 1 <br /> I <br /> I <br /> 1 <br />