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include any changes resulting from credit purchases and from conversion from <br /> uncertified to certified .credit status. Based on a hypothetical situation, the following <br /> table indicates how the accounting system will operate during the 6-yeaz cycle of the <br /> uncertified credit program: ' <br /> l <br /> Period of) ital Maxim2um (3) (4) (5) (6) (7) (8) <br /> GP Maximum Balance of Total Number of Number of Balance of <br /> Improvemrnt Plan Number of Number of Uaoertified Uncertified ~ Uncertified <br /> Potential Potential Gedits ho,A Remaining <br /> Gedits Gedits Sold .Uncertified lJncatified <br /> Credits from Uncertified Prior Yesr " Available for Gets <br /> GP Qredits G'edits <br /> (30°,G of tVIP) ~0 Certified <br /> 1.Years 1, 2, 3 20 6 0 6 2 o <br /> 4 <br /> 2.Years 2, 3, 4 13• 3.9 4 7.9 3.10 <br /> 2 2.8 <br /> 3.Years 3, 4, S 25• 73 2.8 103 3,3 <br /> 2 4.8 <br /> 4. Years 4, S, 6 8• 2.4 4.8 72 3.0 0 <br /> 42 <br /> S. Yearn S, 6. 12• 3.6 42 7.8 0 0 7.8 <br /> 6. Years 6 6.4• 1.9 ~ 7.8 9.7 3.18 0 632 <br /> • r Year an or eteimming ,maximum poten once i c its co tune o is app i on y to e <br /> potential credits that can be realized from the "additional" year. For~example, in the, second year, the.CIP cobers <br /> years 2, 3, and 4. 30'/o is applied only to the credits that can be realized from year 4 (7.S credits). <br /> Within the annual report, the following information. will be provided: . <br /> (a) Maximum number of total potential credits based on approved CIP; <br /> (b) Maximum number of~uncertified credits based on 30% of-approved CIP; <br /> (c) Number of potential credits resulting from approved Mitigation Improvement Plans; <br /> (d) Number of uncertified credits authorized and .available for sale; <br /> (e) Number of uncertified credits purchased (debits); <br /> (fl Number of uncertified credits certified; <br /> (e) Number of uncertified credits unsold at end of yeaz. <br /> ANNUAL REPORT. , <br /> The Program shall report to the MBRT, not less than annually, on the performance of <br /> the individual mitigation sites and the status of the,. Program's. mitigation credit ledger. Not <br /> later than September of each yeaz, the Program shall prepaze and forwazd to the MBRT a <br /> report on the Program's activities for the preceding 12 month- period, and a projection of the <br /> Program's activities for the next 12 month period. The Annual Report shall include: <br /> (1) An accounting of all mitigation credits created and sold during the preceding 12 . <br /> month period. The bank credit ledger review.- shall include: the number of credits <br /> certified during the year; mitigation costs (land, planning and engineering design, <br /> construction, maintenance, remedial activities); the number .of credits (certified and <br /> uncertified) purchased (i.e., debits); the revenues generated from sale of credits; the <br /> remedial actions, if any, and associated, ,costs; and recommended corrective actions, if <br /> any, to policy and procedure actions. . <br /> (2) A description of the work to be performed during the next 12 month period at <br /> individual mitigation bank sites, including work :previously approved by the Corps and <br /> DSL which will create mitigation credits, as well as work to monitor and remediate <br /> <br /> Page 12 - MOA For West Eugene Wetlands Mitigation Banking Program <br /> <br />