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<br />t: <br /> <br />The other difference in the accoUIlts 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 accOUIlted for by the CWCB staff and the Department <br />of Natural Resources Controller. <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 periDdically 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 STIFPBA 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 Food and the STIFPBA, 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 />. <br /> <br />For these reasons the staff is recommending the $77,000 loan to the Town of <br />Ridgway, approved by the Board at their .November 22-23, 1999 meeting, be funded <br />through the STTFPBA. <br /> <br />Recommendation <br /> <br />Staff recommends the $77,000 loan to the Town of Ridgway, approved by the <br />Board at their' November 22-23, 1999 meeting, be recommended to the General <br />Assembly for funding from the Severance Tax Trust Fund Perpetual Base Account <br />financial resources available for new projects in the year 2000. <br /> <br />w <br /> <br />Jan2000.10amemo <br />