CWCB Construction Fund and Severance Tax Trust Fund Annual Report 1999

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I 1 2.0 CWCB Construction Fund 2.1 Cash Sources The CWCB Construction Fund was created by the Legislature in 1971 through SB 71-21. As a revolving cash fund, the CWCB Construction Fund has become a reliable source of funding for water resource development projects and studies each year. The Construction Fund is supported by the cash sources listed below. The sum of all cash sources to the Construction Fund in FY 99 was $16.60 million. • Principal and Interest on Loans - The return of principal and interest in FY 99 was reported by COFRS to be $7.15 million. This included $2.88 million in principal and $4.27 million in interest. • Mineral Lease Fund Distributions - Federal mineral lease revenues from rentals and royalties are distributed to the state in a complex "cascade" formula. The CWCB receives 10-percent of the distribution in the first cut (SB77-35). COFRS reported the CWCB's distribution as $3.82 million in FY 99. • Interest from the State Treasurer - Cash in the Construction Fund is invested by the State Treasurer and the earned interest accrues to the Construction Fund. In FY 99, the CWCB received $5.58 million in earned interest. • Lease Agreements and Other Sources - COFRS reported $29,000 from lease agreements and other sources in FY 99. • Occasional General Fund Transfers - There were no General Fund transfers to the Construction Fund in FY 99. CASH SOURCES CWCB CONSTRUCTION FUND IIIII General Fund Transfer(5694-203) 35 ID Interest from State Treasurer •Mineral Lease Fund Distributions 25 -- •principal and Interest from Loans 20 I 15 — 5.58 4.48 4.86 10 -- 4.32 4A6 3.81 3.25 3.64 in I 4.71 5.48 6.93 0 1 maws. FY 9495 FY 95-96 FY 96-97 FY 97-98 FY 98-99 CWCB FY99 Annual Report,page 8