BOARD01218

• Board Meeting Date: 3/29/1999
• Description: CF Section - Audit implementation activity report
• Board Meetings - Doc Type: Memo

believes it needs two new staff members (an accountant and a contract compliance specialist) and ,-
funding to upgrade its records management system. We believe the rest of the recommended ..".
actions can be accomplished with existing resources.

Audit Implementation Plan Elements

Hire an Accountant

Hire a Contracts Compliance
Specialist
Modernize the Projects Database

Modernize the Management of
Project Records
Review Contract Compliance
Status Systematically
Strengthen Management of Staff
Workload and Allocation Priorities

Evaluate Pre-I 993 Feasibility
Study Contracts for Repayment
Obligations
Review Policy Issues with Key
Constituencies including:
. Purposes of the Fund
. Alternative Sources of
Project Funding
. Time Limits for Project
Initiation
. Conditional Approval of
Loan Authorizations
. Evaluation of Applicant's
"Credit Worthiness"
. Adequacy of Collateral
. Delinquency, Default and
Collections

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50%

50%

20%

60%

20%

50%

60%

. Rtiinar,){S
Accountant hired January 1999 from vacant
position in Section D. Position submitted as
decision item in FY 200 Long Bill.
Position described and submitted as a decision
item in the FY 2000 Long Bill
Relational database designed. Programmer
under retainer. Tempoary employee
"populating" the database.
Request for $270,000 for a document imaging
system with included in SB99-173.
Tracking ofInsurance and UCC forms in
process. Aging report in design.
Section planning seminar conducted in Sept.
1998. Hiring of new section chief in process.
Vacancy in Program Assistant position.
Preliminary list identified

.

Workshop held at January Colorado Water
Congress meeting in Northglenn. Fact sheets
prepared for each issue. Meeting notes have
been compiled.

L:\BOARDMEMIlMARCH99\9903-23a - Audit

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