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<br />. <br /> <br />0376 <br /> <br />. <br /> <br />REPRESENTATIVE ANNUAL SHORTFALLS <br /> <br />TABLE 2 <br /> <br />Project Audited <br />Central Valley <br /> <br />Cumulative <br />Deficit Over <br />Repayment ~eriod <br /> <br />$8,800 million <br /> <br />Time <br />Period (FY) <br /> <br />Annualized <br />Shortfall at <br />Projects' <br />Interest Rate <br /> <br />1977-2027 <br /> <br />$24,960,000 <br /> <br />1977-2077 <br /> <br />$10,374,000 <br /> <br />Pick~Sloan <br /> <br />$6,300 million <br /> <br />1988-2038 <br /> <br />$14,255,000 <br /> <br />CVP 1-1&1 <br /> <br />$1,418 million <br /> <br />1981-2024 <br /> <br />$ 2,521,000 <br /> <br />Fryingpan-Arkansas $ 218 million <br /> <br />Central Arizona <br /> <br />$ 239 million <br /> <br />1988-203.8 <br /> <br />$ 1,916,000 <br /> <br />Colorado River <br />Storage <br /> <br />$1,502 million <br /> <br />1993-2043 <br /> <br />$13,316,000 <br /> <br />Southern Nevada <br /> <br />$ <br /> <br />1 million <br /> <br />1972-2022 <br /> <br />$ <br /> <br />11,300 <br /> <br />Combined Annualized Shortfall <br /> <br />$67,380,000 <br /> <br />3. Nearly 20% of the power output of the Federal dams in the <br />Missouri kiver Basin -- enough energy to serve the needs of <br />250,000 residential customers -- has been, and is now being, <br />given away free. For every eight kilowatts of Missouri River <br />hydroelectric power that the government sells to its fortunate <br />customers, two more kilowatts are available without cost. Even <br />though such power costs are not now being repaid, the Bureau <br />has confidently predicted that the Treasury will be fully <br />reimbursed -- by the year 2152. (See Chapter 4.) <br /> <br />4. 'fhe Uepartment of the Interior has no consistent policy to <br />maximize the recovery of Federal investment in water projects <br />under the law. Indeed, the Department's policy appears in many <br />respects to minimize cost recovery. In most instances where <br />legal issues have been raised, the Department has sought and <br />received legal qpinions which purport to establish the bare <br />legality of the actions or policies criticized by the IG, <br /> <br />10 <br />