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Show Appendix A (continued) NOTES TO FINANCIAL STATEMENTS Upper Colorado River Commission June 30, 1958 Note A-At June 30, 1958, unrecorded liability of the Commission to its full-time employees for accrued annual leave pay amounted to $707.08. According to Commission policy (effective January 1, 1957) each employee is expected to take annual leave of 16 days each calendar year (not necessarily consecutively) during which period of time regular salary payments are continued. The unused portions of annual leave are not carried forward from year to year. Note B-During its annual meeting on September 25, 1957, the Commission accepted a contribution which consisted of all of the assets of Upper Colorado River Grass Roots, Inc. These assets, consisting mostly of cash, were placed in a separate contingent fund to be used to promote the development of the Upper Colorado River Basin. At the same meeting, the Commission formed a special committee on Education and Information. This committee is composed of the four State Commissioners, or persons delegated by them, to promote the development of the Upper Colorado River Basin and to supervise use of the funds received from the Upper Colorado River Grass Roots, Inc. Note C-Interest on the time deposit with United States Bank of Grand Junction is earned if the deposit remains intact for one year. Interest on this deposit will not be paid by the bank if the money is withdrawn before the end of the one year period nor will interest be paid for periods of tim3 in excess of one year. 54 |