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<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 />MEMORANDUM <br /> <br />Bill Owens <br />Governor <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Russell George <br />Executive Director <br /> <br />FROM: <br /> <br />Rick Brown <br />Steve Biondo <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />DATE: <br /> <br />March 9, 2006 <br /> <br />Rick Brown <br />Acting Deputy Director <br /> <br />SUBJECT: Agenda Item 21, March 21 - 22, 2006, Board Meeting- <br />Severance Tax Trust Fund Operational Account Recommendations <br /> <br />. <br /> <br />After July 1995, one-half of the severance tax receipts credited to the Severance Tax Trust Fund are <br />credited to the Operational Account of the Severance Tax Trust Fund. The programs supported by the <br />Operational Account must promote natural resource planning, management, and development related to <br />minerals, energy, geology, and water. <br /> <br />The General Assembly may appropriate funds to the following agencies from the total amount of money <br />in the Operational Account as follows: <br /> <br />Colorado Oil and Gas Conservation Commission 45% <br />Colorado Geological Survey 20% <br />Division of Minerals and Geology 30% <br />Colorado Water Conservation Board 5% <br /> <br />CWCB requests are reviewed by the CWCB and are then forwarded to the state Minerals, Energy and <br />Geology Policy Advisory Board (MEGA Board) for review and approval. MEGA Board <br />recommendations are then forwarded to the DNR Executive Director for further review and inclusion in <br />the DNR's annual budget request. <br /> <br />The use of these moneys requires about 15-18 months advance planning. Information about our <br />application process is available on our web site. <br /> <br />e <br /> <br />In the current Fiscal Year (2005 - 2006), the CWCB received requests for funding totaling $1,786,000. <br />We received $840,000. For Fiscal Year 2006 - 2007, the CWCB recommended $2,194,500 in funding <br />and we expect to receive $840,000. This money is appropriated through the Long Bill. <br /> <br />Part A ofthis memo summarizes the spending plan for the current Fiscal Year 2005 - 2006. <br /> <br />1 <br />