WSP00096

• File Number: 8272.100.50
• Description: Colorado River Basin Salinity Control Forum
• Basin: Colorado Mainstem
• Water Division: 5
• Date: 8/12/1999
• Title: Colorado River Basin Salinity Control Forum - Financial Statements - June 30 1999 and 1998
• Water Supply Pro - Doc Type: Report/Study

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COLORADO RIVER BASIN SALINITY CONTROL FORUM
Notes to Financial Statements
June 30, 1999 and 1998
(See Accountants' Compilation Report)

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(1) AccountinQ Policies

This summaty of significant accounting policies of Colorado River Basin Salinity Control
Forum (the Forum) is presented to assist in understanding the Forum's financial
statements, The financial statements and notes are representations of the Forum's
management, which is responsible for their integrity and objectivity, These accounting
policies conform to generally accepted accounting principles, and have been consistently
applied in the preparation of the financial statements,

IA) Basis of Accounting

The financial statements of the Forum have been prepared on the accrual basis
of accounting and accordingly reflect all significant receivables, payables and other
liabilities in accordance with generally accepted accounting principles. For the
year ended June 30, 1999 and 1998, all revenues earned and expenses incurred
have been received or paid, therefore, there are no accrued receivables or
payables at that date.

(B) Oraanization and Puroose

In part, as a result of Public Law 92-500, the Forum was established in 1973 as
a mechanism for interstate cooperation and to develop water quality standards.
Section 303 of the Clean Water Act requires that these water quality standards be
reviewed from time to time, but at least once every three years,

The Forum is composed of up to three water resource and/or water quality
representatives from each of the seven Colorado River Basin States,
appointed by their respective governors.

The seven-state Forum prepares a review of water quality standards,
including numeric criteria and the plan of implementation developed by the
Forum to maintain water quality of the Colorado River.

The Forum has contracted with a hydrological engineer to act as executive
director of the Forum, The executive director provides a focal point of
contact for the Forum in dealing with salinity problems of interstate
significance.

IC) State Allocation

State allocations represent charges to the states for their pro-rata share of finding
allocations for the purpose of operating the Forum, Such allocations are based on
a formula and are charged to the states annually. .

(0) Income Taxes

The Forum is an organization formed by the seven Colorado River Basin States
and as a quasi-governmental organization is not subject to income taxes.

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