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2.3 Long-Term Projected Expenditures <br /> • <br /> In December 1993 the Board prepared its first Long-Term Financial Projection for the <br /> Construction Fund. The projection allows the Board to balance recommended expenditures <br /> 1 against the projected revenue stream. <br /> The long-term schedule of projected expenditures from the fund is based on the list of existing <br /> 1 authorized appropriations and new projects identified in a statewide survey of water users initiated <br /> in 1993. The list of projected future projects is updated periodically through an aggressive <br /> ' marketing program. <br /> Based on these projects, expenditures from the fund are projected to be $234.9 million over <br /> 1 the next ten years. Of this amount, approximately $174.0 million is for reimbursable projects and <br /> $60.9 million for non-reimbursable projects. The total is distributed as follows: <br /> ' Type Millions <br /> New storage projects $ 73.6 <br /> Dam rehabilitation 44.4 <br /> Water resources infrastructure 53.3 <br /> Water management 21.2 <br /> Fish and wildlife mitigation 11.6 <br /> Information management 18.1 <br /> Administration 12.7 <br /> Total $234.9 <br /> 2.4 Long-Term Cash Sources <br /> The long-term projection of cash sources is based on several conservative assumptions. New <br /> loans were assumed to be amortized at an average interest rate of 3.5-percent over 30 years. The <br /> Mineral Lease Fund cash was assumed to decrease by 5-percent per year. Interest from the State <br /> Treasurer was estimated to be 3.4-percent of the average cash balance of the Construction Fund <br /> and this reflects the effect of the 15-percent management fee pursuant to SB 92-26. Recovery on <br /> existing loans, which historically has been about 99-percent, was assumed to be 95 percent in the <br /> future. Based on the above assumptions, the existing cash sources to the fund are projected to be <br /> $140.3 million over the next ten years. <br /> 2.5 Projected Cash Balance <br /> With $100.8 million in cash reserved for authorized projects, projected cash sources of$140.3 <br /> ' million, and projected expenditures of $234.9 million, the year-end cash balance of the <br /> Construction Fund is expected to level out to between $5 and $10 million after about the year <br /> 2001. <br /> CWCB Annual Report, page 7 <br />