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<br />\ <br /> <br />-2- <br /> <br />Projected expenses for non-reimbursable investments are $3,963,000. The projection for . <br />money available for non-reimbursable investments is based on the difference between the target and <br />actual growth of the Construction Fund (Financial Policy #13 attached). The growth of the <br />Construction Fund for FY04 relative to FY03 was less than the target growth of 3%. The Finance <br />Committee reviewed this information at their September 14th meeting and agreed to set the target <br />growth rate of the Construction Fund for FY05 at 1.5%. That target growth rate of the Construction <br />Fund establishes the basis for the calculation of this year's available funds for non-reimbursable <br />investments. <br /> <br />Conclusion <br />As of the date of this memo, it appears sufficient cash will be available to fund the <br />applications shown on the attached list. <br /> <br />. <br /> <br />. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Plamring <br />