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<br />1 <br />I <br /> <br />, <br /> <br />Discussion <br /> <br />. <br /> <br />Attached is a financial statement summarizing the FY 1999-00 Construction Fund <br />cash available and projected expenses. Total unreserved cash available for new projects <br />and other expenses is $16,690,920, projected expenses are $15,659,125 leaving a <br />projected balance of $1,031,795. This number includes project approvals from the <br />November and January Board meetings and additional applications and recommendations <br />to be presented at the March Board Meeting. <br /> <br />The revenue projected as income to the Construction Fund in 2000 is $16,8 <br />million. Therefore, the Board may recommend up to $840,000 (5,0%) in loans for <br />floodplain projects next year. <br /> <br />In making recommendations to the General Assembly, the Board should be aware <br />of certain criteria and limitations set by statute which are summarized in an attachment to <br />this memo, <br /> <br />Conclusion <br /> <br />As of the date ofthis memo, it appears sufficient cash will be available to fund the <br />applications shown on the attached list. <br /> <br />. <br /> <br />Attachments <br /> <br />. <br /> <br />MarOO,7amemo.doc <br />