Finance Committee Meeting 2006

• Board Meeting Date: 9/19/2006
• Description: Finance Sub-Committee Meeting September 19, 2006
• Board Meetings - Doc Type: Meeting

STATE OF COLORADO
1876
K
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street,Room 721
Denver,Colorado 80203
Phone:[phone]
FAX:[phone]
www.cwcb.state.co.us
Bill Owens
Governor
Russell George
Executive Director
Rod Kuharich
CWCB Director
Dan McAuliffe
Deputy Director
MEMORANDUM
TO: CWCB Finance Subcommittee
FROM: Rod Kuharich
DATE: September 19,2006
RE: Concept for Funding Projects of Statewide Concern and Project
Rehabilitation
The amount of income into the Severance Tax Trust Fund Perpetual Base Account is
expected to remain relatively steady for the next several years. While this income will be
impacted by refunds to energy producers based on the amount of local ad valorem taxes
they pay,I believe a conservative approach to accounting for this steady growth presents
the Board with an opportunity it has never had before—an opportunity to encourage the
construction of"Projects of Statewide Concern"and to rehabilitate degraded
infrastructure.
Using this income will require a statute change to allow non-reimbursable investments to
be made from the Account. I intend to make a request for your authority to pursue this
statute change in next year's Projects Bill officially in November. I have attached a copy
of this proposed change for your convenience.