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Show 48 BUDGET BUREAU CIRCULAR A-4 7 AND POWER PARTNERSHIP shall be indicated and reference made to the section of law imposing such requirement. (b) Application to budget estimates.-Except as provided in paragraph 4a, a budget estimate subject to this circular shall conform to the standards and procedures set forth herein. (c) Variations from circular.-This circular shall not be regarded as requiring .an an agency to submit a report which is contrary to its views. However, any report which varies from the standards and procedures set forth herein because of agency policies shall, in the same manner as indicated in paragraph 4 (a), be accompanied by a statement of the reasons for the variation. Each report shall contain or be accompanied by appropriately documented information to indicate the exact extent to which the standards and procedures established herein have been followed in the preparation of the report. Where the preparation of the basic report is so far advanced on the date of issuance of this circular that it would be impracticable to furnish the information required by this circular, this fact will be taken into account in the consideration of the report. All reports submitted after July 1, 1953, however, must conform to the requirements of this circular. 5. Definitions For the purposes of this circular: (a) "Project" means any integral physical unit or several component and closely related units or features, or any system of measures, undertaken or to be undertaken within a specified area for the control or development of water or related land resources, which can be considered as a separate entity for purposes of planning, evaluation, financing, construction, management, or operation. Separable units or features will generally be considered as separate projects. (6) "Program" means any combination or system of two or more interrelated projects. (c) "Benefits," as used for purposes of evaluation of proposed programs or projects, means all the identifiable gains, assets, or values, whether in goods, services, or intangibles, whether primary or secondary, and whether measurable in monetary or nonmonetary terms, which would result from the construction, operation, or maintenance of a program or project. (d) "Primary benefits" means the identifiable gains, assets, or values directly resulting from any program or project. (e) "Secondary benefits" means identifiable gains, assets, or values other than primary benefits of a program or project which are properly creditable to the program or project. (/) "Economic costs," as used for purposes of evaluation of proposed programs and projects, means all the financial costs of the program or project except investigating, surveying, and planning costs incurred prior to authorization; and all the other identifiable expenses, losses, and liabilities, whether in goods, services, or intangibles, whether direct or induced, and whether measurable in monetary or nonmonetary terms, which are incurred as a result of constructing, operating, or maintaining a program or project. (g) "Financial costs" means all the monetary outlays made in connection with a program or project and interest costs connected therewith; i. e., the construction costs, the operation and maintenance costs, and interest on the unliquidated balance of the reimbursable construction costs. When applied to allocations made to irrigation for repayment purposes under paragraphs 7 (a) and 18 (b), "financial costs" shall not include interest on the irrigation construction costs. (h) "Construction costs" means expenditures (amounts paid and payable) for the initial project construction and the net replacements and additions of significant units thereof, including contract work, materials and supplies, labor, and use of equipment; acquisition of lands, easements, rights-of-way, and water rights; costs of relocating facilities and the settlement of damage claims; interest during construction; any capital expenditures for protection of public health, for preventing loss of or damages to recreation, fish and wildlife and mineral resources, and scenic, archeological, and historical values; any capital expenditures for the replacement of recreation and fish and wildlife resources damaged or destroyed by the project; the appropriate portion of engineering, administrative and general expenses of the agency relating to the project; and all other amounts of expenditures specifically applicable to the investigations, surveys, plans, designs, and construction of the project. When applied to allocations made to irrigation for repayment purposes under paragraphs 7a and 18b, "construction costs" shall not include interest during construction on the costs allocated to irrigation. |