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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Shennan Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX, (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />MEMORANDUM <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />Mike Serlet, P.E., <br />Chief, Water Supply Planning and Finance Section <br /> <br />DATE: <br /> <br />November 12, 2003 <br /> <br />SUBJECT: <br /> <br />Agenda Item 5b, November 19-21, 2003 Board Meeting <br />Water Supply Planning and Finance <br />Estimate of Funds Available for New Projects in 2004 <br />Severance Tax Trust Fund Perpetual Base Account <br /> <br />Introduction <br />This fInancial information is for the Board's use in evaluating the availability of additional <br />funds from the Severance Tax Trust Fund Perpetual Base Account for new loans to fInance future <br />water proj ects. <br /> <br />Background <br />The information for the Severance Tax Trust Fund Perpetual Base Account is based on the <br />closing reports for the fIscal year ended June 30, 2003. A total of approximately $29.4 million is <br />projected as available for modifIcations to previous loan authorizations and new construction project <br />loans in 2004. <br /> <br />Discussion <br />Attached is a fInancial projection summarizing the FY 2003-04 Severance Tax Trust Fund <br />Perpetual Base Account cash available and projected expenses. Total revenue available for new <br />projects and other expenses is $29.4 million. Projected expenses are approximately $20 million, <br />leaving a projected balance of $9.4 million. This number includes loan projects presented at the <br />November Board meeting. <br /> <br />Conclusion <br />As of the date of this memo, it appears suffIcient cash will be available to fund the <br />applications shown on the attached list. <br />Notes to the Expense and Revenue Summary <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />