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<br /> <br />2 REPORT ON COLORADO RrvER STORAGE PROOECT <br /> <br />, <br />, <br />2. COST OF CONSTRUCTING, OPERATING AND MAINTAINING THE <br />, PROJECT <br /> <br />The attached '''Balance sheet, June 30, 1957, exhibit A" presents <br />the financial position of the project at that date. <br />Costs to June' 30, 1957, of constructing the project are identified <br />as follows: ' <br />Partlcular8 Amount <br />Direot costs: Construction -work in progress___u________n__n__ $8,394,711 <br />Unapplied costs: ! <br />Investigation oosts_______~________________________________ 1,282,719 <br />Construction service facilities__.___________n_n____________ 1,205,420 <br />Materials and supplies. _ _ _.__. ________ ___ ____._ __ _._______ 24,400 <br />Prepayments ~nd advances__nnnn___________n____n___ 72,091 <br />Other oharges and work in progress_n_________________n_n 18,575 <br />! <br />TotaL____J____~______________________________________ 10,997,916 <br />Through June' 30, 1957, no costs had been incurred with respect to <br />operating and maintaining the project. <br /> <br />3. ALLOCATION OF FEDERAL INVESTMENT <br /> <br />No formal allocations to the several purposes served by the proj ect <br />have been mad~ of the cost to June 30, 1957, as reflected in con. <br />struction work in progress accounts. This is in accordance with the <br />provisions of sec~ion 6 of Public Law 485 which states that upon com- <br />pletion of each t!nit, participating project or separable fe!lture ~here,?f, <br />the Secretary sliall allocate the total costs of constructmg smd umt, <br />project or feature to the various purposes authorized in the act or <br />authorized under reclamation law. <br /> <br />4. PROGRESS OF RETURN AND REPAYMENT OF FmDERAL INVESTMENT <br /> <br />As indicated lin the forepart of this report the fiscal year 1957 <br />marked the inc~.ption of construction on the project and no income <br />producing facili~les were in an operational s.tatus. Hence, there is no <br />progress to reliort on the return and repayment of the Federal <br />unvestDlent. i <br /> <br />5. ESTIMATED RATE OF PROJECT REPAYMENT YEAR BY YEAR <br /> <br />During the first fiscal year of the project, no storage unit, partici- <br />pating project" or separable feature thereof had been completed. <br />Therefore, at June 30,1957, .cost allocations of the Federal investment <br />to the. several pljrposes served by the project, as prescribed by section 6 <br />of the act, had, not been made. Accordingly, no estimated rl1te of <br />progress of return and repayment, year by year, of the investment to <br />be so allocated, jis included in tIlis annual report. <br />