BOARD01329

• Board Meeting Date: 11/19/2001
• Description: CF Section - Financial Matters Construction Fund and Severance Tax Fund Perpetual Base Account Comprehensive Annual Financial Report
• Board Meetings - Doc Type: Memo

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STATE OF COLORADO

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Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.tJ5

l3if10wens
Governor

MEMORANDUM

Greg E. Walcher
Executive Director

Rod Kuharich
CWCB Director

Dan McAuliffe
Deputy Director

TO:

Colorado Water Conservation Board Members

Mike Serlet, p.EH r
Chief, Water Su;~lanning and Finance Section

FROM:

DATE:

November 9, 2001

SUBJECT:

Agenda Item 17a - Novernber 19-20, 2001, Board Meeting
Water Supply Planning and Finance - Financial Matters
Construction Fund and Severance Tax Trust Fund Perpetual Base
Account Comprehensive Annual Financial Report

The Colorado General Assembly, through House BilI 01-1419, authorized the
Colorado Water Conservation Board (CWCB) to contract with a responsible independent
accounting firm for the purpose of prepating a Comprehensive Annual financial Report
(CAFR) ofthe CWCB Construction Fund and Severance Tax Trust Fund Perpetual Base
Account (STTFPBA).

The CWCB entered into a contract with Van Schooneveld and Company, Inc. of
Greenwood VilIage, Colorado on November 24, 2000 to complete the work outlined in
the CAFR Scope of Work. The Scope of Work was reviewed and approved by the Board
at the May 23, 2000 Board meeting in Alamosa. Clifton Gunderson, LLP, has recently
acquired Villl Schooneveld and Company, Inc.

Mr. Kevin F. Collins, CPA, Principal, and Dawn Martinez, CPA, Project Manager
with Clifton Gunderson, will be present to answer questions regarding the Construction
Fund and STTFPBA financial statements for the fiscal year ending June 30, 2001 at the
November 20,2001 Board meeting. Comparative financial statements for the fiscal years
ending June 30, 2000 will also be presented. Additional work is on-going by Clifton
Gunderson relative to accounting procedures and operations ofthe Construction Fund and
STTFPBA.

Flood Protection. Water Project Planning and Financing. Stream and lake Protection
Water Supply Protection. Conservation Planning

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