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<br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone, (3031 866.3441 <br />FAX, (3031 866.4474 <br /> <br />STATE OF COLOMDO <br /> <br />. <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director, DNR <br />PeterH. Evans <br />Director, ewes <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members J <br /> <br />Mike Serlet, P.E., Chief, Project Planning and Construction Section ~ <br /> <br />September 17, 1999 <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: Agenda Item # 7 - September 27-28, 1999, Board Meeting <br />. Water Project Construction Loan Program - Proposed Policies <br /> <br />Background <br /> <br />In October 1998, the Legislative Audit Committee (LAC) reviewed the results of <br />a performance. audit concerning the CWCB Construction Fund Loan Program. The State <br />Auditor's report included 18 measures for improvement of the program and raised <br />concerns about the size and management of the fund, the loan application and approval <br />process and the administration of approved loans. The CWCB agreed with the <br />recommendations and agreed to meet again with the LAC in October 1999 to review <br />progress toward implementation of the recommendations. <br /> <br />. <br /> <br />In anticipation of the October LAC meeting the following proposed Policies were <br />discussed as informational items at the July Board meeting, at which time the Board <br />made several recommendations for revisions to the policies. Those recommendations <br />have been incorporated into the new proposed policies # 1-#4. Policy #5 has been <br />prepared for final consideration by the Board at the September Board meeting in <br />anticipation of having it in place prior to the October LAC meeting and the November <br />CWCB Board meeting. <br />