BOARD01857

• Board Meeting Date: 1/27/2004
• Description: Summary Minutes and Record of Decisions - January 27-28, 2004
• Board Meetings - Doc Type: Minutes

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8. Water Resources Information Center Update
Tape 1, Track 1 1:29:39 - 1:48:05
Action: Information item. No formal action taken.

9. Water Supply Protection - Species Conservation Trust Fund
Tape 1, Track 1 1:48:05-2:07:48
Action: A motion was made by Carolyn McIntosh with a second by David Smith to
approve staff recommendation that the Board (1) reaffirm the above
expenditures totaling $2,568,000 from the SCTF for FY 04-05 and forward
that recommendation to the Executive Director of DNR, (2) recommend that
DNR de-authorize capital account authorizations from years prior to FY 02-03
that have not been used, (3) strongly encourage the addition of at least $2
million into the SCTF for fiscalyear FY 05-06 and (4) recommend that DNR,
using SCTF dollars, contract directly with the Colorado River Water
Conservation District for construction of the Elkhead Reservoir enlargement
element of the Upper Colorado RIPRAP to the extend of Colorado's UCRIP
cost share obligation and assure appropriate cost share credit from the UCRIP
is received.

In addition, the board 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 are nearly totally obligated, additional
funding is required. If additional funding is not forthcoming, then general
direction concerning the use of SCTF dollars that would limit the expenditures
to only those necessary for participation in the two Recovery Programs and
the Cooperative Agreement should be provided. No additional funding means
that the State will fall behind in cost share obligations under the two Recovery
Programs or completely fail to meet them. This would likely mean that the
two Recovery Programs will fail to achieve sufficient progress and thus will
no longer provide the reasonable and prudent alternatives for existing and
future water projects.

Motion was approved 9-0. Ray Wright was not present.

10. Colorado Water Research Institute Activities
Tape 1, Track 1 2:07:48 - 2:39: 15
Action: Information item. No formal action taken.

11. Water Supply Planning and Finance - Financial Policy Revisions
a. Policy #13 - Target Growth Rate for the Combined Equity of the Construction
Fund and Severance Tax Trust Fund Perpetual Base Account
Tape 1, Track 1 2:39: 15-2:50:35
Action: A motion was made by Don Schwindt with a second by Bob Burr to approve
staff recommendation that the Board adopt the revised version of Financial
Policy #13. Motion was approved 9-0. Ray Wright was not present.

12. Water Supply Planning and Finance - New Financial Policy Review

Flood Protection. Water Project Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation Planning