WSP00504

• File Number: 8410.300.60
• Description: Basin Multistate Organizations - Missouri Basin States Association - Reports
• State: CO
• Basin: Statewide
• Date: 1/1/1982
• Author: MBSA
• Title: MBSA - Fiscal Year 1982 Annual Report
• Water Supply Pro - Doc Type: Report/Study

00333~

MISSOURI BASIN STATES ASSOCIATION

NOTES TO STATEMENT OF OPERATING CASH RECEIPTS
AND EXPENDITURES AND UNOBLIGATED CASH AND INVESTED CASH

1. Accounting policies

Organization - In response to Executive Order
12319 of September 9, 1981. which terminated
the existence of the Missouri River Basin
Commission (Commission), the Missouri Basin
States Association (Association) was
incorporated as a Nebraska nonprofit organiza-
tion and is exempt pursuant to Section
501(c)(3) of the Internal Revenue Code. Assets
of the Commission were transferred to the
Association which is a regional coordination, In-
formation exchange and discussion forum.

Basis of presentation - The Association ac-
Counts for its operations on the basis of cash
receipts and expenditures. Use of this basis of
accounting results in a financial statement
which differs from financial statements prepared
in accordance with generally accepted
accounting principles in that certain revenue is
recorded when received rather than when
earned and certain expenditures are recorded
when paid rather than when incurred. In
addition, furniture and equipment purchases are
included in expenditures currently and no de-
preciation is recorded. Accordingly, the accom-
panying financial statement is not intended
to present results of operations in conformity
with generally accepted accounting principles.

Fiscal year - The Association has elected a
September 30 year end for Its first year of op-
eration because of the large portion of funding
provided through the U.S. Government and
the continuation of Commission programs. In
anticipation of funding being provided primarily
through the member states of the Association
future fiscal years will be June 30. '

2. Cooperative agreements

Effective March 18, 1982, the Association en-
tered into cooperative agreements with the
U.S. Water Resources Council (WRC) for the
Missouri River Flood Plain Study and the Mis-
souri River Basin Hydrol09Y Study, The
agreements each created a Study Control Board
to provide executive direction,

The WRC agreed to provide funding up to
$95,000 for the Flood Plain Study and $282,888
for the Hydrology Study. However, the WRC

portion of the study could not exceed 75% of
the total costs incurred after the effective date
of the agreement including in-kind services.
For the Flood Plain Study. total costs incurred
were $127,948 Including $95,000 of cash
expenditures and obligations shown on the fi-
nancial statement from WRC funds, $32,891 of
in-kind services provided by various states
and $57 of the balance which will be paid by
the Association. For the Hydrology Study, total
costs incurred were $293,884 including
$213,896 of cash expenditures and obligations
shown on the financial statement from WRC
funds and S79,988 of in-kind services from var-
ious states.

c,
(,
. ~I
(
f
~

'.'

~
"
"
}

"
g
;jl
,
t~
~
~
~,

The remaining obligations under each of the
cooperative agreements are to cover staff, ad-
ministrative and printing obligations incurred
prior to September 3D, 1982, and the cost of
the close-out audit, the only expense after Sep-
tember 3D, 1982, provided for under the
agreements and the remaIning funds which
according to the agreements, must be returned
to the Federal Government. No funds will be
returned to the WRC for the Flood Plain Study
and $68,992 has been included as an
obligation to be returned for the Hydrology
Study.

The final reports on the studies, which were to
be submitted to the Chairman of the Water
Resources Council by September 30, 1982, are
expected to be submitted by the end of
October.

,.
.'

~:
~
t
"
~~

)~

~I
G
t:
~,
~
,;

~-

":'

r
~
~:
~
~I
"
l'~
.":
~',

3. State receipts

State funding shares of Association operations
are received based on a fiscal year ending June
30. Cash receipts from States during the year
ending September 30, 1982, includes $19,597
for the slate funding year ending June 3D,
1983.

~:~
~;

"
k:'

4. Employee benefits

The Association has a defined-contribution
pension plan covering most of its employees, a
successor plan to that of the Commission. The
Association and the employees contribute
specified amounts to the plan as defined in the
pension trust agreement. Benefits are provided

i':

'.,
i-:
'.>:

.-,

.,

..

9

(;.

(:,
.',

.'<
'.
~/

'.