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. . . ,. Agenda Item 19, Native Species Conservation Trust Fund Recommendations January 25-26, 2005 Board Meeting Page 3 of3 Reservoir have been completed and are in the process of being signed. A portion (5,000 AF permanent and 2,000 AF by lease) of the increased Elkhead storage (approximately 11,750 AF in total) will benefit the Upper Colorado Endangered Species Recovery Program. Funding sources for the Elkhead enlargement include up to $9,159,532 from the UCRIP. Colorado will provide its remaining UCRIP cost share, which is estimated to be approximately $6.3 million, from the SCTF capital account, directly to the CRWCD for the enlargement ofElkhead Reservoir. 2. Platte River Cooperative Agreement (CA): No additional funding requests for FY05-06 were made. 3. Colorado Division of Wildlife Recommendations: Funding requests totaling $322,461 were made by CDOW as shown on the attached page. Discussion The capital account currently contains adequate funds to meet the anticipated expenditures of both the UCRIP and SJRIP through FY 05-06 with approximately $2,600,000 remaining in the SCTF capital account and that is currently earmarked for the Platte River Program. We have a foreseeable need for approximately $1.4 million over the next 2 or 3 years just to meet our remaining cost share obligations under the UCRIP and SJRIP. In addition, we anticipate a need for at least another $12 million to complete the Platte River Cooperative Agreement Program and that need could be as much as $30 million depending on the final program that is agreed upon and the outcome ofthe ongoing cost share discussions. The attached spreadsheets provide a summary of selected SCTF financial information. There is no detailed information on totallong-term projected State funding needs from the SCTF. However, the spreadsheets do show that the existing SCTF balance is inadequate and that additional funding must be provided in the future. Recommendation Staff recommends that the Board (1) recommend the above expenditures totaling $1,144,648 from the SCTF for FY 05-06 and forward that recommendation to the Executive Director ofDNR, and (2) recommend that DNR, using SCTF cost share dollars, contract directly with the Colorado River Water Conservation District for construction of the Elkhead Reservoir enlargement element ofthe Upper Colorado RIPRAP to the extent of Colorado's remaining UCRIP cost share obligation and assure appropriate cost share credit from the UCRIP is received. In addition, staff recommends continued coordination with the DNR and the CDOW toward the development of more detailed information on the SCTF expenditure history, and the long-term SCTF goals and funding needs. Given that the funds in the SCTF Capital Account are now totallv obligated. additional funding will be reQuired in FY 06-07. If additional funding is not forthcoming, then general direction concerning the use of other SCTF dollars that would limit the expenditures to only those necessary for participation in the two Recovery Programs and the CA should be provided. The limited funding provided in FY 05-06 will not result in the State falling behind in its cost share obligations under the two Recovery Programs. However, additional funding will be required in FY 06-07 in order to assure that the two recovery programs will achieve sufficient progress and thus continue to provide the reasonable and prudent alternatives for existing and future water projects. Attaclunents Flood Protection. Water Project Planning and Financing. Stream and Lake Protection Water Supply Protection. Conservation Planning