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I <br /> X01 cot() J. DAVID BARBA,C.P.A. <br /> STATE OF COLORADO State Auditor <br /> * !GGi7 * * OFFICE OF THE STATE AUDITOR Legislative Services Building <br /> � */ (303)866-2051 200 East 14th Avenue <br /> *X876 *i FAX(303)866-2060 Denver,Colorado 80203-2211 <br /> Colorado Water Conservation Board <br /> Construction Fund Loan Program <br /> Department of Natural Resources <br /> ■ Performance Audit <br /> ■ September 1998 <br /> Authority, Purpose, and Scope <br /> This performance audit was conducted under the authority of Section 2-3-103, C.R.S., which <br /> authorizes the Office of the State Auditor to conduct performance audits of all departments, <br /> institutions, and agencies of state government. The audit was conducted in accordance with <br /> generally accepted government auditing standards. Our procedures included reviewing <br /> documentation,interviewing staff of the Colorado Water Conservation Board, and analyzing data. <br /> Audit work was conducted between December 1997 and July 1998. <br /> IThe purpose of the audit was to evaluate various aspects of the Construction Fund Loan Program's: <br /> • Statutory compliance <br /> • Funding <br /> • Loan application and review processes <br /> • Accounting and recordkeeping activities <br /> This report contains 18 recommendations for improving the Construction Fund Loan Program. We <br /> gratefully acknowledge the assistance and cooperation of staff at the Department of Natural <br /> Resources. The following summary provides highlights of the comments, recommendations, and <br /> agency responses contained in the report. <br /> Overall Program Management Needs Improvement <br /> The Colorado Water Conservation Board (the Board)is a Type 1 agency within the Department of <br /> Natural Resources. The Board is the State's primary water policy and planning agency. The <br /> statutory duty of the Board is to promote conservation of the State's waters in order to ensure their <br /> greatest utilization and to assist in flood prevention. One program that helps the Board meet its <br /> statutory duty is the Construction Fund Loan Program (Program). This important program was <br /> established in 1971 to help the Board meet its statutory responsibilities. The Program provides loans <br /> For further information about this report, contact the Office of the State Auditor at(303)866-2051. <br /> -1- <br />