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2.11 Litigation Account <br /> ' Section 37-60-121 (2.5) (a), CRS, created the Litigation Account in the Construction Fund. <br /> Under certain conditions, the Board is authorized to expend up to $4.0 million from the Litigation <br /> Account for litigation in support of water users whose water supply yield may be diminished as a <br /> result of conditions imposed by any federal agency on permits for existing reservoirs located on <br /> federal lands. No lawsuits have yet been determined to meet the criteria. <br /> ' The Litigation Account is not to be confused with the Reserved Rights Litigation Fund created <br /> in the State Treasury by the General Assembly in 1982 through SB 82-087. Authority for that fund <br /> is found in the statutes at Section 37-60-121.1, CRS. <br /> Any interest earned by the Litigation Account is credited equally between the Construction Fund <br /> and the Colorado Water Resources and Power Development Authority. The balance of the Litigation <br /> Account was $4,000,000 on June 30, 1996. <br /> i <br /> 2.12 Performance Audit Reco mmendations <br /> ' In February 1993, the Office of the State Auditor completed its performance audit of the <br /> Colorado Water Conservation Board's Construction Fund as requested by the Department of Natural <br /> Resources. The audit was conducted pursuant to Section 2-3-103, CRS,which authorizes the State <br /> Auditor to conduct performance audits of state agencies. Seven recommendations were made in the <br /> areas of project planning, financial planning, and administration of the project approval process. A <br /> general overview of action taken in response to the performance audit recommendations is <br /> summarized in the following table. <br /> 1 <br /> 1 <br /> I <br /> 1 <br /> I <br /> 1 <br /> CWCB FY96 Annual Report,page 13 <br />