Section 40-8.7-108.5 - Energy outreach Colorado - administration of water assistance contributions(1) The organization shall hold and administer all money collected for water assistance pursuant to this article 8.7 delivered to it by water utilities pursuant to section 40-8.7-107 in a separately identifiable account, which shall be restricted to the purposes set forth in this article 8.7. The organization shall maintain its books and records pertaining to the water assistance contributions in accordance with generally accepted accounting principles and, in addition, shall maintain records adequate to identify the money collected by each water utility. If the organization commingles the money collected and delivered with other assets of the organization for investment purposes, the organization shall maintain accurate accounts of the investment money and shall credit or charge a pro rata portion of all investment earnings, gains, or losses to the account that holds the water assistance collections.(2) The organization shall use the water assistance contributions to provide low-income water assistance. The organization shall pay the financial assistance money to each participating water utility as vendor payments. The organization shall not use the money for water assistance for customers whose water utility does not participate in the program. The organization may use up to five percent of the money collected for administration of the water assistance program in accordance with generally accepted accounting principles.(3) The organization shall, on an annual basis, develop a budget for the water assistance program to determine the allocation of the water assistance contributions collected under this article 8.7.Added by 2021 Ch. 488,§13, eff. 9/7/2021.L. 2021: Entire section added, (HB 21-1105), ch. 3505, p. 3505, § 13, effective September 7. 2021 Ch. 488, was passed without a safety clause. See Colo. Const. art. V, § 1(3).