Division outlines fund balances: revolving, C&D, Colorado River reuse transfers and repeal of city water loan fund

Division financial staff provided an update on the board’s various funding accounts and recent transfers enacted by the Legislature.

Shalane DeBernardi said the revolving construction fund still has about $14,000,000 available for regular projects even if currently authorized and committed projects are funded. She reported the city water loan fund was repealed (effective May 7) and that the remaining balance (about $3,000,000) was transferred to the Water Infrastructure Fund to support the unified water infrastructure planning process; repayments on existing city water loan projects will flow to that new fund.

DeBernardi separated the Conservation and Development (C&D) fund totals from the Colorado River reuse transfers. She reported two transfers for Colorado River reuse projects have been made and that $95,000,000 is currently available in that reuse allocation; the broader C&D fund, if current authorizations and commitments are funded, would leave about $75,000,000 available for regular C&D projects. She noted the new $95 million reuse pot will be small compared with a recently filed $200 million application and will be allocated once per fiscal year.

Staff also said secondary grant programs are often over-committed to avoid lapsing funds that must be spent in a fiscal year, and that ARPA-related contracts are progressing; staff warned the governor’s office must be consulted if ARPA funds are returned to state coffers for reallocation. DeBernardi ended by noting anticipated large future demands, including Washington County’s large reuse application (the $915M concept), and the board received quarterly dam-safety projections separately.

Ending

Staff asked board members to expect follow-up on dam-safety projections and the Washington County application; no board votes were recorded in the briefing meeting.