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BOARD02550
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BOARD02550
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Last modified
8/16/2009 3:16:57 PM
Creation date
10/4/2006 7:17:12 AM
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Template:
Board Meetings
Board Meeting Date
11/23/1998
Description
CF Section - Construction Fund Performance Audit Response Schedule
Board Meetings - Doc Type
Memo
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<br />. <br /> <br />No. <br />4 <br /> <br /> <br />5 <br /> <br />Duration of <br />Funding <br />Authorizations <br /> <br />6 <br /> <br />Feasibility <br />Studies <br />(timing, <br />completeness) <br /> <br /> <br />M",; ,,_0,- ,', <br />{: ~ ':;~;1~;~;~~l::J:y <br />. Reeomme <br />Ensure projects receiving <br />funding through the Program <br />clearly adhere to the funding <br />priorities now established by <br />statute or seek statutory <br />changes. <br /> <br />Establish reasonable time <br />limits for sponsors to expend <br />project funding. <br /> <br />Improve methods for ensuring <br />the feasibility of a project prior <br />to loan approval. . <br /> <br />Review and make recommendations by 2/99 <br /> <br />. Review the need for, and develop proposed revisions to the Guidelines and loan authorizing <br />statutes io consultation with the Colorado Water Congress for consideration by the Board by <br />November 30, t998. <br /> <br />. Present Board recorrunendations to the Governor and the General Assembly by February I, <br />1999. <br /> <br />Assess and report by 2/99 <br /> <br />. Review all authorized loans not constructed and determine how long they have been <br />authorized. <br /> <br />. Identify funding authorizations for completed projects with residual balances still on the <br />books and recorrunend any residual funds be returned to the cash balance of the <br />Construction Fund. <br /> <br />. Develop and evaluate options in consultation with the Colorado Water Congress for the <br />Board to consider concerning the feasibility of rigid time limits for the Construction Fund <br />loan approvals. <br /> <br />. Propose amendments to CWCB statutes or to the Board's Guidelines as necessary. <br /> <br />. Present CWCB assessment of this issue, along with any recorrunended action, to the <br />Governor and the General Assembly by February I, 1999. <br /> <br />Tighten review immediately <br /> <br />. Assure that all pending and future feasibility studies are completed before a project is <br />presented to the Board. <br /> <br />. Assure that feasibility studies contain the information needed to assess the applicant's <br />ability to repay the proposed loan. <br /> <br />. Develop guidelines for when the Board may recorrunend a project for a loan authorization <br />without a completed feasibility study (conditional approval). <br /> <br />5 <br />
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