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<br />COLORADO WATER CONSERVATION BOARD
<br />SEVERANCE TAX TRUST FUND - PERPETUAL BASE ACCOUNT
<br />STATEMENTS OF REVENUE, EXPENSES AND CHANGES IN RETAINED EARNINGS
<br />YEARS ENDED JUNE 30, 2002, 2001 AND 2000
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<br />(See Accountant's Compilation Report)
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<br /> 2002 2001 2000
<br />INTEREST REVENUE
<br />Net investment income $ 1,491,450 $ 1,393,012 $ 1,309,405
<br />Interest earnings - Loans 1,280,476 730,568 374,964
<br />Total interest revenue 2,771,926 2,123,580 1,684,369
<br />OTHER REVENUE
<br />Severance tax 14,282,464 15,479,286 7,986,967
<br />Total revenue 17 ,054,390 17,602,866 9,671,336
<br />EXPENSES
<br />aXCESS REVENUE OVER EXPENSES 17,054,390 17,602,866 9,671,336
<br />RETAINED EARNINGS - BEGINNING
<br />OF YEAR 57,538,568 39,935,702 30,264,366
<br />RETAINED EARNINGS - END OF YEAR $ 74,592,958 $ 57,538,568 $ 39,935,702
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