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<br />Colorado Oil and Gas Conservation Commission <br />Colorado Geological Survey <br />Division of Minerals and Geology <br />Colorado Water Conservation Board <br /> <br />45% <br />20% <br />30% <br />5% <br /> <br />. <br /> <br />The Executive Director of the Department of Natural Resources is required to submit with the <br />department's annual budget request a list and description of the programs the Executive Director <br />recomInends to be funded from the Operational Account. <br /> <br />The state Minerals, Energy, and Geology Policy Advisory Board (MEGA Board) was established <br />in 1995 to advise the Executive Director on programs or projects that should receive a grant of funds <br />. from. the .Operational .Account. The MEGA Board also reviews the Executive Director's <br />recommendation before it is included in the state's annual "Long Bil1." <br /> <br />The MEGA Board has recommended that use of the Severance Tax Trust Fund for water project <br />construction and water planning "give preference to energy impacted areas." Fact sheets prepared <br />by the Colorado Geological Survey with maps showing production of coal, minerals, oil and gas in <br />Colorado in 1996 (best available data) are attached. <br /> <br />Discussion <br /> <br />. <br /> <br />The annual revenue to the Operational Account over the last 3 years ranged from $2.4 to $6.3 <br />million and averaged about $4.5 million. The year-end balance in FY 99 is projected to be $7.0 <br />million. Assuming revenues of $3.5 million, the total revenue available in FY 2000 will be about <br />$11.5 million. Based on this assumption, up to approximately $575,000 might be available to the <br />CWCB from the Severance Tax Trust Fund Operational Account for FY 2000. <br /> <br />In the three years past, the four state agencies involved and the MEGA Board have proposed <br />using significantly less than the full allotted amount per agency in order to build up the cash reserves <br />in the Operational Account. The following table lists the total annual revenues available and the <br />funds available to the CWCB compared with the proposed, appropriated, and expended funds since <br />inception of the account. <br /> <br /> <br />Total Revenue Available <br />Available to CWCB (5%) <br />Proposed <br />Appropriated in Long Bill <br />Expended to Date <br /> <br />$8,799,000 $7,988,000 $10,543,910 $11,500,000 <br />439,950 399,400 527,196 575,000 <br />100,000 100,000 527,196 <br />100,000 100,000 275,000 <br />99,500 46,957 0 <br /> <br />. <br />. ~ <br /> <br />2 <br /> <br />L <br />