BOARD01606

• Board Meeting Date: 5/11/1998
• Description: CF Section - STTFOA - FY 2000 Proposed Projects
• Board Meetings - Doc Type: Memo

.

Colorado Water Conservation Board
Department of Natural Resources
721 Centennial Building
131 3 Sherman Street
Denver, Colorado 80203
Phone, [phone]
FAX, (3031866-4474

STATE OF COLORADO

o

Roy Romer
Governor.

James S. Lochhead
Executive Director, DNR
OariesC. LiJe,P.E.
Director, eweB

MEMORANDUM

TO:

Colorado Water Conservation Board Members

William P. Stanton, P. E. ~.
Chief, Project Planning and Construction Section

FROM:

DATE:

May 4, 1998

. ., SUBJECT: Agenda Item 18c, May 11-12, 1998 Board Meeting-
Severance Tax Trnst Fund Operational Account - FY 2000 Proposed Projects

Introduction

The Severance Tax Trust Fund Operational Account is a valuable financial resource in addition
to the Construction Fund for water resource studies and investigations. However, use of these
moneys requires about 15 - 18 months advance planning. CWCB staff have developed several
proposals for consideration by the Board for use of such funds which would become available on
July I, 1999 for expenditure in the fiscal year (FY) 2000.

Background

After July 1995, one-half of the severance tax receipts credited to the Severance Tax Trust Fund
are credited to the Operational Account of the Severance Tax Trust Fund. The programs supported
by the Operational Account must promote and encourage sound natural resource plarming,
management, and development related to minerals, energy, geology, and water. The General
Assembly may appropriate moneys from the total moneys available in the Operational Account to
.. fund recommended programs as follows:

I