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5. FISCAL " Article VIII E.(1) of the Compact provides that expenses incident to the administration of the Compact not paid by the United States shall be borne by the states on the basis of 60% to Colorado and 40% to Kansas. Budgets for such expenses are prepared annually, and the states are assessed their proportionate share of the budgeted expenses at the beginning of each Fiscal Year (FY). The Administration's FY runs from July 1 to June 30. The fiscal affairs of the Administration for Compact Year 1993 involve portions of the Administration's FY 1992-93 (1111192 to 6/30/93) and FY 1993-94 (7/1193 to 10/31/93). The Treasurer reported on the financial status of the Administration for the relevant periods of those fiscal years at the Annual Meetings held on December 8, 1992 and December 14, 1993. , ~. -. At the December 8. 1992 Annual Meeting the following budget actions were taken: . FY 1992-93 budget previously adopted was revised (2nd revision) with anticipated expenses of $47,625; FY 1993-94 budget previously adopted was revised (1 st revision) to reflect anticipated expenses of $53,200 and including a special assessment of $13,000 for litigation purposes; . FY 1994-95 budget was adopted with anticipated expenses of $52,050 and including a special assessment of $1 0,000 for litigation purposes. Copies of these budgets are included in this report as Appendix A-1. At the close of the fiscal year on June 30, 1993 the Administration had a cash balance of $34,983 as shown in the FY 1992-93 Auditor's Report, which was accepted at the December 14, 1993 Annual Meeting and is included herein as Appendix A-2. The Administration had a cash balance of $48,336 on December 10, 1993, as reported by the Treasurer at the Annual Meeting and shown on Appendix A-3. r AItc.All1l11 7