Report of the State Auditor 1993

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Report of The Colorado State Auditor 27 Projects Authorized by the Legislature May Not Be Constructed The Board annually recommends projects for funding to the General Assembly. If the General Assembly approves a project for funding, monies are authorized for the project from the Construction Fund. This authorization represents an allocation of monies already in the Construction Fund. After a project is authorized the following may occur: Authorization represents an allocation of monies already in the Construction Fund. . Project construction begins immediately. . Project construction is deferred. . Project sponsors request the authorized funds to be deauthorized. Project sponsors may request funds to be deauthorized if they decide not to proceed with construction of the project for some reason, such as an inability to obtain the balance of funding from other sources. Deauthorized project funds stay in the Construction Fund and are available for other projects. Project Sponsors Are Contacted If Construction Has Not Started Within Five Years The Board's current practice is to review its list of contracts annually. However, if construction on a project is not initiated within five years, the Board contacts the project sponsor to detennine if the project should be deauthorized. If the project sponsor does not agree to deauthorization, the Board takes no further' action, except to continue to contact the project sponsor on an annual basis. The Board only recently ~egan documenting these communications. Thirty-Two Projects Have Been Deauthorized Since 1980 Project sponsors do not always go ahead with an authorized project. An extended period can pass between the time of authorization and eventual deauthorization. For example, since 1980, 32 projects have been de authorized. The average length of time that passed before de authorization was five years. During this period, these funds were not available to finance' other projects.