Báo cáo của Kiểm toán độc lập Ủy ban Kiểm toán lập pháp của cơ quan lập pháp bang Montana: kiểm toán của chúng tôi được tiến hành với mục đích hình thành một ý kiến về các báo cáo tài chính chung bao gồm kiểm soát Montana ô nhiễm nước và báo cáo tài chính của Chương trình Nước Uống Nhà nước Quỹ quay vòng | A-18 15. Other Financing Sources and Uses Loan interest amounts received that exceed the debt service requirements are shown as a Financing Source and Use on the financial statements. The balance remaining in the Debt Service fund is transferred to the Investment account in the State special Revenue fund. Both funds are required by the State Revolving Fund Program. This occurs after payments are made to the bondholders on July 15 of each year. In the Arbitrage Certificate this activity is termed a Debt Service Sweep. The Loan Loss Reserve Sweep represents cash in excess of the reserve requirement that is transferred from the Loan Loss Reserve fund to the Principal fund per the bond indenture. The Loan Loss Reserve fund is not required by the State Revolving Fund Program but the state elected to have this fund to account for these funds separately. When DEQ receives money from EP A it is deposited into an account at US Bank who then makes distributions to the borrowers when they become approved for the loans. These distributions are recorded in SABHRS monthly. The loan payments made by the cities and counties are recorded at DNRC in a State special Revenue fund. 16. Subsequent Events In August 2007 two Bond Anticipation Notes BAN were issued for 500 000 each. These BANS were to match EPA Capitalization Grant funds. They were paid off on January 10 2008. There may be additional BANS or bonds issued in FY 2008 to match EPA funds. This is trial version LEGISLATIVE AUDIT DIVISION Scott A. Seacat Legislative Auditor Tori Hunthausen Chief Deputy Legislative Auditor B-1 Deputy Legislative Auditors James Gillett Angie Grove Independent Auditor s Report The Legislative Audit Committee of the Montana State Legislature Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Montana Water Pollution Control and Drinking Water State Revolving Fund Programs financial statements. The Montana Water .
