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~ ~. . . ~\ the project with the estiiliated costs to provide an indication of economic feasibility. Only those benefits and costs which can be readily expressed in monetary terms will be quantified and evaluated. Project consequences which cannot be expressed in monetary terms will be described in the final report. The planning horizon and projections for future planning area populations and development conditions will be established in consultation with the State. In addition, economic evaluation criteria and procedures will also be established in consultation with the State. Benefits will be estimated separately for each project purpose. project purposes to be evaluated are irrigated agriculture, hydropower production, recreation, flood control municipal and industrial water supply and other uses as may be established in Task 5. Agricultural benefits will be estimated for both surface and groundwater irrigation uses resulting from an increased water supply in the project area. ~ For the economic analyses, benefit/cost comparisons will be made for incremental benefits and costs for each major identifiable project purpose as well as total benefits and costs for the entire project. Benefits and costs will be discounted or annualized by use of appropriate discount rates in consultation with the State. At a minimum, economic evaluation~ will include benefit/cost ratios, estimated net benefits and the estimated internal rate of return for each alternative. Where appropriate, sensitivity analyses may be used with a reasonable range of costs, prices and interest rates to assess the possible impact of alternative future economic conditions. Task 13 - Report Preparation A final report will be prepared summarizing all of the work accomplished during the study. The final report will present the basic project data, results of all studies conducted, comparison of project alternative arrangements, a description and preliminary layout of the selected project(s), construction cost estimates and schedule, and conclusions. The final report shall include such maps, drawings, charts, tables, graphs, and displays as are reasonahly necessary to adequately present the information and results developed during th~ study. Preliminary drafts of chapters of the report shall be submitted to the State at the earliest practical time. The draft final report shall be submitted no later than December 1, 1982 for the State's review so that the State may have the opportunity to provide such comments as it may feel are appropriate for inclusion into the final report. The State will allow a reasonable time period for the Contractor to incorporate the State's comments in order to submit a camera-ready final report no later than January 15, 1983. -10-