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<br />. <br /> <br />. <br /> <br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866,3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF COLOAADO <br /> <br />. <br /> <br />Bill Owens <br />Governor <br /> <br />GregE. Walcher <br />Executive Director, DNR <br />Peter H. Evans <br />Director, eweB <br /> <br />MEMORANDUM <br /> <br />TO: Colorado Water Conservation Board Members <br /> <br />FROM: Mike Serlet, P,E., Chief, Project Planning and Construction Section4J <br />DATE: May 17, 1999 <br /> <br />SUBJECT: Agenda Item 14, May 24-25, 1999 Board Meeting- <br />Severance Tax Trust Fund Operational Account- <br />Revised Funding Allocation for FY'99 <br /> <br />An overview of the FY'99 projects funded through the Severance Tax Trust Fund <br />Operational Account is shown in the attached table, including the alternative projects <br />approved by the Board at their January 27, 1999 Board Meeting. The Board was <br />allocated $275,000 in FY'99 and the money must be spent during the designated fiscal <br />year or it reverts back to the Operational Account. Staff is optimistic that all the projects <br />outlined will be completed by the June 30, 1999 deadline, <br /> <br />The State Minerals, Energy, and Geology Policy Advisory Board (MEGA Board) <br />advises the Executive Director on programs or projects that should receive a grant of <br />funds from the Operational Account. The MEGA Board also reviews the Executive <br />Director's recommendations before it is included in the state's annual "Long Bill". The <br />MEGA Board has recommended that use of the Severance Tax Fund for water project <br />construction and water planning "give preference to energy impacted areas," <br /> <br />Staff will present the FY'OI recommendations to the Board, for review and <br />approval, at the July 26-27,1999 meeting in Steamboat Springs, <br />