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<br />- 2 - <br /> <br />~ <br />. <br /> <br />Notes to the Expense and Revenue Summary <br />Severance Tax Trust Fund Perpetual Base Account <br /> <br />Unreserved Cash Funds FY06 Bel!innin2: Balance <br /> <br />Unreserved cash in the Severance Tax Trust Fund Perpetual Base Account at the beginning <br />of the state fiscal year is based on the end of period financial information provided to us by the State <br />Treasurer's Office and summarized by Clifton Gunderson, LLP in the Year Ending Financial <br />Statement Compilation Report. <br /> <br />Revenue - Annual Estimate <br /> <br />Total cash revenue to the Severance Tax Trust Fund Perpetual Base Account is based on <br />three sources of income including principal and interest on existing loans, interest from cash <br />invested by the State Treasurer, and direct Severance Tax revenue as distributed into the Severance <br />Tax Trust Fund Perpetual Base Account. <br /> <br />. <br /> <br />Statutory Limitations <br /> <br />In considering recommendations for projects to the General Assembly, the Board should be <br />aware of the following criteria and limitations set by statute: <br /> <br />1. Section 39-29-109 (1) (a) (I), CRS provides that "...pursuant to sections 37-60-119 and 37-60- <br />122, C.R.S The authorization and contract for each such project shall require repayment of <br />principal and interest to the severance tax trust fund and moneys so repaid shall be credited to <br />the perpetual base account of the severance tax trust fund. " <br /> <br />.' <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br /> <br />