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<br />. <br /> <br />. <br /> <br />. <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />.WWW.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />MEMORANDUM <br /> <br />Russel George <br />Executive Director <br /> <br />Rod Kuharich <br />ewes Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Mike Serlet, P.E" Chief ~J <br />Water Supply Planning and~itn~e Section <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />DATE: <br /> <br />January 16, 2004 <br /> <br />SUBJECT: Agenda Item 11 - January 27-28, 2004, Board Meeting <br />Water Supply Planning and Finance - Policy Revisions <br />Policy #13 - Target Growth Rate for the Combined Equity of the Construction <br />Fund and Severence Tax Trust Fund Perpetual Base Account <br /> <br />Introduction <br /> <br />Financial policy #13 provides a process for estimating the financial resources available for <br />non-reimbursable investments from the Construction Fund in any given year. The existing policy is <br />vague in the description of how the estimate of funds available should be calculated, This proposed <br />policy revision attempts to clarify how the funds available calculation will be made, <br /> <br />Back!!round <br /> <br />At the November 19, 2003 Board meeting the estimate of funds available for loans and non- <br />reimbursable investments for 2004 was presented in agenda item #5a. The Board discussion of this <br />item centered around whether the growth of the fund should be calculated on a year-to-year basis or <br />relative to the base year 1999, The Board decided to make the calculation on a year-to-year basis <br />and directed staff to clarify the policy, Staff stated that clarifying revisions to this policy would be <br />presented at the January board meeting. The Board also requested to see a separation of the total <br />fund equity into the fund equity of the Construction Fund and the fund equity of the Perpetual Base <br />Account. <br /> <br />Flood Protection. Water Supply Plaruting and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />