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<br />. <br /> <br />ou2118 <br /> <br />. <br /> <br />COLORADO RIVER BASIN SALINITY CONTROL FORUM <br />Notes to Financial Statements <br />June 3D, 1989 <br /> <br />- <br /> <br />(1 ) <br /> <br />Accounting Policies <br /> <br />. <br /> <br />This summary of significant accounting policies of Colorado River <br />Basin Salinity Control Forum (the Forum) is presented to assist in <br />understanding the Forum's financial statements. The financial <br />statements and notes are representations of the Forum's management, <br />which is responsible for their integrity and objectivity. These <br />accounting policies conform to generally accepted accounting <br />principles, and have been consistently applied in the preparation of <br />the financial statements. <br /> <br />. <br /> <br />Accounting Basis <br /> <br />. <br /> <br />Assets and liabilities, and revenues and expenses are <br />recognized on the accrual basis of accounting. For the year <br />ended June 3D, 1989 all revenues earned and expenses incurred <br />have been received or paid, therefore, there are no accrued <br />receivables or payables at that date. <br /> <br />. <br /> <br />Organization and Purpose <br /> <br />In part, as a result of Public Law 92-500, the Forum was ~ <br />established in 1973 as mechanism for interstate cooperation and ,..., <br />to develop water quality standards. Section 303 of the Clean <br />Water Act requires that these water quality standards be <br />reviewed from time to time, but at least once every three <br />years. <br /> <br />. <br /> <br />The Forum is composed of up to three water resource and/or <br />water quality representatives from each of the seven Colorado <br />River Basin States, appointed by their respective governors. <br /> <br />. <br /> <br />The seven-state Forum, prepares a review of water quality <br />standards, includin9 numeric criteria and the plan of <br />implementation developed by the Forum to maintain water quality <br />of the Colorado River. <br /> <br />. <br /> <br />The Forum has contracted with a hydrological engineer to act as <br />executive director of the Forum. The executive director <br />provides a focal point of contact for the forum in dealing with <br />salinity problems of interstate significance. <br /> <br />. <br /> <br />e <br /> <br />. <br />