W ATER T RUST B OARD The Basics 2010. T HE B OARD The 2001 New Mexico State Legislature, through the Water Project Finance Act, created the Water Trust.

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Presentation transcript:

W ATER T RUST B OARD The Basics 2010

T HE B OARD The 2001 New Mexico State Legislature, through the Water Project Finance Act, created the Water Trust Board, a diverse 15-member Board empowered to assist the Legislature in prioritizing and funding water projects statewide. In 2007, the membership increased to 16 with the addition of the Secretary of the Department of Finance & Administration as guided by House Bill 53.

T HE B OARD … The Water Trust Board is charged with prioritizing projects for recommendation to the Legislature for financing from the Water Project Fund ; adopting rules and regulations governing the terms and conditions of grants or loans made from the Water Project Fund. Water project recommendations to the Legislature come from a consensus among this broad representation of interests on how best to address New Mexico’s water needs into the future and how to best allocate precious resources.

T HE B OARD … The current membership:

T HE F UNDS Funding from the Water Trust Board is supported through the financial framework of these three funds for statewide water projects. Water Trust Board Water Project Fund Water Trust Fund Acequia Project Fund

T HE F UNDS … The Water Trust Fund: Held in the State Treasury Invested by the State Investment Officer Endowed with $40 million in Spring 2006 Fall 2006: the Water Trust Fund became a Permanent Fund Annual distribution of $4 million into the Water Project Fund Water Project Fund Water Trust Fund

T HE F UNDS … The Water Project Fund: Created in the New Mexico Finance Authority Receives an annual 10% distribution of the State’s Severance Tax Bond Proceeds ($38.5 million in 2009) Receives an annual distribution from the Water Project Fund ($4 million in 2009) Net 10% of funds for water rights adjudication Loans & grants awarded to authorized & approved water projects ($38,311,517 in 2009) Water Project Fund STB Proceeds + WTF Distribution STB Proceeds + WTF Distribution Net 10% Adjudication Net 10% Adjudication Project Funding

T HE F UNDS … The Acequia Project Fund: Created in 2004, provides grant funding to legislatively authorized acequia projects Endowed with $200,000 by private donation January 2009, rules and polices were adopted establishing a means to award acequia project funds Projects are reviewed by an inter agency team with staff from the New Mexico Finance Authority & the Interstate Stream Commission The Acequia Project Fund projects are prioritized by the Water Trust Board for recommendation to the Legislature and funding by the New Mexico Finance Authority Acequia Project Fund

By statute, the Water Trust Board may fund five types of projects: Storage, Conveyance and Delivery of Water; Implementation of the Endangered Species Act Collaborative Programs; Restoration and Management of Watersheds; Flood prevention; and Conservation, Recycling, Treatment or Reuse. The Projects

Since inception, the Water Trust Board continues to support the development of water projects statewide with grants & loans. 175 projects statewide; $181,233,661 in grants & loans from the Water Project Fund 33 Watershed Restoration & Management Projects $15,004,034 The Projects …

Water Project Funds Approved Year to Date

T HE P ROJECTS … Water Project Funds Approved Year to Date

A PPLICATION Each Year the Water Trust Board seeks out applications for water projects. The 2010 cycle is the 2 nd year for on-line applications. The comprehensive set of Water Project Management Policies govern the prioritization and readiness of applications and also formed an inter-disciplinary technical team called the Project Management Team. The Project Management Team evaluates applications and makes recommendations to the Water Trust Board. These applications are ranked using Water Trust Board approved criteria and the projects are recommended to the Legislature. Legislative authorized projects are then eligible for funding. The Water Trust Board determines funding on terms and conditions established by the Water Trust Board and the New Mexico Finance Authority. New Mexico Finance Authority then makes loans and grants to qualified entities for projects prioritized by the Board and authorized by the Legislature.

A PPLICATION …

The Project Management Team is comprised of staff from seven agencies: NM Environment Department Department of Game & Fish Department of Agriculture New Mexico Finance Authority Department of Finance & Administration Office of the State Engineer NM Energy Minerals & Natural Resources Department These agencies work in collaboration to ensure all applications submitted receive a comprehensive evaluation. Application …

F OR FURTHER INFORMATION OR QUESTIONS ON THE 2010 WATER TRUST BOARD APPLICATION CYCLE, PLEASE CONTACT : J ANA M. A MACHER S ENIOR P ROGRAM A DMINISTRATOR N EW M EXICO F INANCE A UTHORITY 207 S HELBY S T. S ANTA F E, NM NMFA. NET