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<br />. <br /> <br />. <br /> <br />emphasize that a stable stream of funding, whatever its magnitude, <br /> <br /> <br />is essential to the establishment of cost-effective planning and <br /> <br /> <br />construction programs and to the setting of project priorities. <br /> <br /> <br />Widely varying annual appropriations make it very difficult to plan <br /> <br /> <br />ahead in a timely and effective manner. <br /> <br />With respect to future funding needs, the enclosed 5-year <br /> <br /> <br />projection represents the Board's best current judgment of the invest- <br /> <br /> <br />ments that should be made in the near term. Given the long lead <br /> <br /> <br />time for water project planning and development, one must also look <br /> <br /> <br />beyond the next 5 years. As the state agency charged with continu- <br /> <br /> <br />ously studying the state's water resources, planning for the develop- <br /> <br /> <br />ment thereof, and establishing the procedures for project development <br /> <br /> <br />(see section 37-60-115, C.R.S.l, the Board has various activities <br /> <br /> <br />already under way in this regard. However, consideration should <br /> <br /> <br />also be given to state funding for 100 percent of the cost of long- <br /> <br /> <br />range planning studies since such studies necessarily have broad <br /> <br /> <br />geographic scopes and consider more than one site specific project. <br /> <br /> <br />Given the large expense and broad scope of such studies, they should <br /> <br /> <br />be subject to the General Assembly's authorization and direction <br /> <br /> <br />and should be carried out by the Board per its statutory respon- <br /> <br /> <br />sibili ties. <br /> <br />JvlMcD:mm <br />Ene: as stated <br />