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<br /> RECOMMENDATION LOCATOR <br />Rec. Page Agency Agency Implementation <br />No. No. Recommendation Summary Addressed Response Date <br /> 18 Develop a formal, systematic program or process which Board Agree 12/93 <br /> provides a long- and short-term framework for the use of the <br /> Construction Fund, This process should include developing <br /> broad policy statements, establishing goals and <br /> implementation plans, and developing performance <br /> measures. <br />2 21 Develop and implement an effective process for long-term Board Agree 12/93 <br /> financial planning of Construction Fund monies. This <br /> process should include establishing long-term funding needs, <br /> assessing current sources of funds. and projecting future <br /> funding requirements that may be needed to meet long-term <br /> goals. <br />3 25 Establish guidelines which include setting loan interest rates Board Partially Agree 7/93 <br /> to reflect market interest rates. The guidelines should be <br /> reflected in the projects that will be authorized during the <br /> upcoming legislative session. <br />4 26 Charge interest on cash disbursements made to project Board Agree 12/93 <br /> sponsors during the construction phase of projects. Interest <br /> charges could be added to the principal amount of the loan <br /> and financed over the term of the loan. <br /> <br />-7- <br />