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r.f''" I; NOTES TO STATEMENT OF CASH RECEIPTS AND EXPENDITURES AND REMAINING CASH 1. Accounting polidP'> B<Hi~ of prewflf.Hion - The ,1\..1is\ouri Ri\;{'f Ba..in Commission (Com- mission) accounted lor its operdtions on the b.lsis oi cash receipts and expenditures. Use of this bdSis 01 accounling results in a financ:ial statement which d,ffers in some respects from fin<ln(-ial slatemenh prepared in accordance with generally dcc-epted accounting principles in thai certain ft.'venue is recorded when received rather than when earned and (etl..in ('xpendilUres ..He recorded when paid rather than when the oblig.Hion is incurred. Acc:ordingl\'. the accompanying iin.lncial statement is not inlendt'd to prewnt results of oper lliom in conformity with generally Jccepled accounting princjple~. Hm...ever. becau<;e the Commi~~ion has been terminated (~ee !\iote 2) the accompanying statpment include.. obligations outstanding .IS of September 30. 1981. Indirt~CI ('~ppn,p~ - In 1981 and 1980.ln .lllocalion of indirect expeme~ Wd" dgreed to by the v.J[ious ..tudy dir{'ctor~. In the pd..l. somp at these expenses have been paid directly by cNtain of the studies. Equipmenl - furniturp and equipment purchased was included in expendituft... currently and no deprecialion was recorded. CPrtain ilems 01 furniture hdd been prmided dt no cost by the General Services Administration (GSAl. Prior 10 September 30. 1981, the furniture dnd {'quipment WdS review('d br Commi..sion personnel and those dssets identified .I" belonging 10 GSA wt're relUrnt>d ~vith remaining furniture ,'lnd equipmem (fdnsferred to the As..ocidlion (..ee Note 2) lor use or disposition. Illcome ra~e'i - Thp Commission WdS exempt ham federdl income tax under Section 501 (c)(3) of the Internal Revenue Code. Cha;rm.Jn\ e~p('mf'~ - The "Jlary and related benefit~ of thp Com- mission chairman were pfOvidf'd by the U.S. Water Re..ourcesCouncil Jnd the..e costs .He not includpd in the Jccomp.lOying ..talemenl. 2. Tprmination of Commission On July 10. 1981 thp \\'dter Re~ourc('.. Council vott'd to terminate thf' Commission under thf' provi..ions of Section 20}la) of the \\'ater Rf'..ources Planning ACI by September 30. 1981. The Commi..sion ha.. tf'rminalf'd operations and thf' ds..els will bf' trdm/erred to the newly formed ,'\'i..souri Bd..in Stales A....ocidtion (As..ocidtion) to the extem permilled by law in accordance with Executive Order 12319 of September 9, 1981 (Execulive Order). By' re..olutlon of the go\'ernor.. of Ihe ..tate.. belonging 10 the Com- mi....ion, a non-profit corporation. the A....ociation was formed 10 continue the work of the Commi....ion. In Jccordanc('with thi.. resolu- tion, all remdining unobligated fund.. of the Commi....ion ""ere to be turned over to the A....ociation. Subsequenl to September 30. 1981. $665,630 wa.. depo..ited to an As..ociation account. The remdining balance of $369.435 (bringing the tot.:ll to $1.035.0651 is available for tran..fer 10 the A....ociation as permitted by the Executi\(' Order. Atthe date 0/ this report. Ihere wa.. d remaining $11,014 e..timated unpaid obligation for unemploymenl compensation. The A....ocia- lion hJ.. indicated a willingness 10 a....ume the unemp1o'lment compen..ation if the estimdted b.J1ance is tran..ferred to it. Also, "