Laserfiche WebLink
<br />The other difference in the accounts lies in the way they are accounted for. The <br />STTFPBA is controlled and accounted for by the State Treasurer, whereas the <br />Construction Fund is managed and accounted for by the CWCB staff and the Department <br />of Natural Resources Controller. <br /> <br />e <br /> <br />The General Assembly, through the annual CWCB Projects Bill, must authorize <br />appropriations and expenditures from both accounts. <br /> <br />Discussion <br /> <br />Over the past several years, in order to reserve loan funds in the Construction <br />Fund for future specific needs without impacting the annual availability of funds for <br />water projects. the Board has created several special accounts within the Construction <br />Fund. These include. but are not limited to, the Colorado River Recovery Program Loan <br />Account, the Arkansas River Augmentation Loan Account and the Emergency <br />Infrastructure Loan Account. After all annual loan and grant requests have been <br />evaluated and prioritized, funds in these accounts are increased periodically by Board <br />recommendation to the Legislature based on future needs of each account and the <br />availability of funds in the Construction Fund. To date, no special accounts have been <br />created in the STTFPBA for the reservation of funds, however this could change in the <br />future, <br /> <br />In order for the Board to have as much flexibility as possible in utilizing funds in <br />both the Construction Fund and the STTFPBA, it is necessary to assign a specific funding <br />source for each project loan. Designating as many annual loan requests as possible to the <br />STTFPBA maximizes the monies available from the Construction Fund for the <br />reservation of funds into special accounts and non-reimbursable projects. <br /> <br />e <br /> <br />For these reasons the staff is recommending the $336.600 loan to the Jackson <br />Lake Reservoir and Irrigation Company, approved by the Board at their November 22-23, <br />1999 meeting, be funded through the STTFPBA. <br /> <br />Recommendation <br /> <br />Staff recommends the $336.600 loan to the Jackson Lake Reservoir and Irrigation <br />Company, approved by the Board at their November 22-23, 1999 meeting, be <br />recommended to the General Assembly for funding from the Severance Tax Trust Fund <br />Perpetual Base Account financial resources available for new projects in the year 2000. <br /> <br />e <br /> <br />Mar2000.15amemo <br />