&EPA
U.S. ENVIRONMENTAL PROTECTION AGENCY
EPA832-N-08-001
 A Newsletter for the Clean Water SRF
 NEWS AND IDEAS FORTHE NEXT 20 YEARS OF THE CLEAN WATER SRF
                                                   SUMMER  2008
Tapping the Untapped

Potential  of the  CWSRF

O n IIT was another great year for the Clean Water State Revolving Fund (CWSRF)! The
lm\J\J I  program provided $5.3 billion in assistance (2,050 loans)—the highest ever—and
cumulative assistance provided is now $63 billion (20,700 loans). After 20 years of growth and
success, EPA is engaging states in a discussion to explore what more might be done to further
improve the already successful program.To encourage discussion the Clean Water SRF Branch
recently issued the draft white paper entitled: "The Clean Water State Revolving Fund Program:
Tapping its Untapped Potential." One goal of the white paper is to explore CWSRF financial
flexibilities and project eligibilities with the intent of encouraging states to make greater use of
the CWSRF  program to solve their water quality problems. The paper introduces regions, states
and assistance recipients to a wide range of projects and financial structuring approaches that
are possible under the CWSRF program, highlighting the types of eligible assistance that have
remained relatively unexplored by states to date and the financial structures that make it
possible to do more without jeopardizing the repair and replacement of our aging infrastructure.
The paper is not new policy or guidance; it simply aims to take a fresh look at the potential of
the program after 20 years of successful wastewater infrastructure financing.

The white paper is available at the CWSRF Discussion Forum under the "Tapping the Untapped
PotentiaT'topic. The discussion forum can be accessed at http://cwsrf.invisionzone.com/.
The examples below present a sampling of what is eligible under the broad  scope of the Clean
Water State Revolving Fund  Program. The white paper provides a compilation of possible uses
of CWSRF funds under existing statutory authority. To view the full list of program eligibilities
supported under the CWSRF, please read the white paper in its entirety.

Program  Eligibilities

Projects are eligible for CWSRF funding under three different sections of the Clean Water Act
(CWA): §212 for Publicly Owned Treatment Works (POTW), §319 for Implementation of a Non-
point Source Management Plan, and §320 for Development and Implementation of a National
Estuary Comprehensive Conservation Management Plan (CCMP). EPA took a close look at
each CWSRF authority to  identify untapped funding opportunities to meet pressing water
quality and  public health  needs.
                                                        continue on the next page  >

                                                                       Welcome to the new and improved
                                                                       SRF's Up newsletter! The CWSRF
                                                                       celebrated its 20th anniversary in
                                                                       2007 so this newsletter will focus
                                                                       on the next 20 years of the Program.
                                                                       This edition of SRF's Up highlights
                                                                       EPA's recently released draft white
                                                                       paper "The Clean Water State Re-
                                                                       volving Fund Program:Tapping its
                                                                       Untapped Potential," that discusses
                                                                       the full range of program eligibilities
                                                                       and assistance options available
                                                                       under the CWSRF. The newsletter
                                                                       also explores CWSRF strategic man-
                                                                       agement and marketing activities
                                                                       that will help states reach high priority
                                                                       water quality projects and make the
                                                                       program even more accessible to
                                                                       potential assistance recipients.
                                                                      TABLE OF CONTENTS
                                                                      Tapping the Untapped
                                                                      Potential of the CWSRF

                                                                      Marketing Your CWSRF:
                                                                      Why Is It Important?

                                                                      The 2007 PISCES Awards

                                                                      Updates and Initiatives

                                                                      Upcoming Events

                                                                      Feedback

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CWSRFSRF'S UP NEWSLETTER  I  SPRING 2008
                              Highlights of program eligibilities under sections 212
                              and 319 include:

                              • Publicly owned municipal stormwater projects
                               under section 212 and both publicly and privately-
                               owned stormwater projects under section 319. In
                               addition to traditional pipe, storage and treatment
                               systems, green infrastructure and wetland protec-
                               tion and restoration can also be funded. Land is
                               eligible only if it will be an integral part of the
                               treatment process.

                              Rockville, MD received a CWSRF loan to fund the
                              planning, design, and restoration of a stream, which
                              included the stabilization of eroding stream banks
                              and enhancement of existing wetlands.
                              Watts Branch in Rockville, MD.The restoration of Watts
                              Branch was funded with CWSRF dollars.

                              • Water conservation and reuse. In addition to that,
                               effluent can be treated to whatever level of reuse a
                               system desires, even to drinking water standards.

                              Cheyenne, Wyoming used a CWSRF loan to renovate
                              and upgrade water reclamation facilities to remove
                              ammonia, and used the reclaimed water to irrigate ball
                              parks, golf courses, andgreenways in the community.

                              • Energy conservation and efficiency, including
                               power production onsite at a Publicly Owned
                               Treatment Works (POTW), green energy production
                               at a POTW, and the pro-rata share of capital costs
                               of offsite publicly owned clean energy facilities used
                               to power a POTW.
                                                                        Atlantic County, NJ used a CWSRF loan to install 2,700
                                                                        solar panels at five locations across a wastewater
                                                                        treatment facility and now has a projected energy
                                                                        cost savings of $115,000 per year.
                                                                         The Atlantic County Utilities Authority used CWSRF funds
                                                                         to install solar panels at its wastewater treatment facility.

                                                                        • Water quality trading. Funding can be provided for
                                                                          projects at POTWs or nonpoint source projects that
                                                                          generate water pollution control credits.

                                                                        • Water quality related Best Management Practices
                                                                          (BMPs) at animal feeding operations (AFOs) that are
                                                                          not regulated as point sources.

                                                                        Missouri's Nonpoint Source Animal Waste Disposal
                                                                        Project loans money to small and medium sized
                                                                        farmers for implementation of agricultural BMPs.

                                                                        • Where there is a causal link between manmade air
                                                                          pollution and water quality, projects with a direct
                                                                          water quality benefit that prevent the emission of
                                                                          air pollutants in excess of Clean Air Act requirements
                                                                          are eligible.

                                                                        Project eligibilities under §320 of the CWA represent
                                                                        significant opportunities for the CWSRF program. As
                                                                        discussed in the draft white paper, CWSRFs can fund
                                                                        projects located within a National Estuary's watershed
                                                                        study area if provided for in the §320 Comprehensive
                                                                        Conservation Management Plans (CCMP). If a broader
                                                                        geographical scope than the study area typically defined
                                                                        in existing CCMPs is allowed, §320 projects potentially
                                                                        are eligible within the entire watershed of a National
                                                                        Estuary. The CCMP would need to be revised to reflect

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                                                                       SPRING 2008
                                  CWSRFSRF'S UP NEWSLETTER
                                     3
this change by describing any new activities or water
quality problems addressed by these eligibilities.This
could allow a wide range of publicly or privately-owned,
point source or nonpoint source projects to be eligible for
CWSRF assistance. Additional information on those areas
that have been designated as participating in the Na-
tional Estuary Program is available at http://www.epa.gov/
owow/estuaries/. States interested in additional informa-
tion should contact Sheila Platt at platt.sheila@epa.gov.

Financial  Options and Incentives

In addition to highlighting program eligibilities, the white
paper evaluates how states can gain greater benefit from
the CWSRF program by implementing strategic financing
options.There are a number of unused or underutilized
approaches that demonstrate the flexibility of the
CWSRF and ways in which the program can leverage its
financial position to increase lending capacity, including:

• Tiered interest rates to encourage more projects
  that help meet state water guality needs;
• Loan fees that can be used with fewer restrictions
  than standard funds, such as for providing  planning
  and design loans or grants;
• Extended term financing to allow for longer term
  financing than 20 years for the
  purchase of local debt obligations;
• Alternative loan structures, such
  as linked-deposit loans and
  sponsorship programs;
• Loan guarantees or insurance
  to significantly expand the
  assistance provided by CWSRFs
  and to reduce the cost
  of conventional  bank loans;
• Refinance or purchase local debt.

The inherent flexibility of the
CWSRF is a hallmark of the pro-
gram, but EPA recognizes that
many of the options discussed
above may not be feasible or even
appropriate for every  state. The
goal of the white paper is to pres-
ent the broadest view of what is
eligible for CWSRF funding, so
states can continue to ensure that
money is directed to the highest
priority water guality projects in
the most efficient way. O
      DID YOU KNOW?
In 2006, Massachusetts combined an SRF
loan with a section 319 nonpoint source
grant to pay for the installation of 45 rain
gardens and several vegetated swales in
the City of Cohasset to treat stormwater
runoff prior to it entering the town's
stormwater collection system.

Maine provides CWSRF loans for environ-
mentally friendly logging equipment
through the Maine Forestry Direct Link
Program. Applicants must be certified
sustainable loggers and abide by Maine
Forest Service BMPs.This linked deposit
program has generated $2,600,000 in
loans since April 2007.
             The Columbia River is part of the Lower Columbia River National Estuary.

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CWSRFSRF'S UP NEWSLETTER  I  SPRING 2008
                           MARKETING YOUR  CWSRF:
                           WHY  IS IT IMPORTANT?
                                  'Q the last 20 years, the CWSRF has experi-
                           U V Ell enced significant growth and success.
                           At this important milestone, several states have been
                           reevaluating the role of the CWSRF. They are asking
                           themselves whether the CWSRF is achieving maxi-
                           mum positive impact on water quality. This process
                           led to the EPA white paper, which highlights well-
                           established as well as relatively unexplored CWSRF
                           program eligibilities and financing options. Planning
                           and marketing efforts can provide the ideal opportunity
                           to consider how the CWSRF's program eligibilities and
                           financial options can be beneficial to a state's Program.
                           Actively reaching out to communities and encouraging
                           these types of projects can help states achieve greater
                           gains in water quality. EPA is currently developing
                           a comprehensive marketing guide to help states
                           develop enhanced strategic planning and marketing
                           approaches for their CWSRF programs.

                           While all states market their CWSRF through websites,
                           presentations and brochures, several states have
                           begun to take a more comprehensive look at their
                           outreach activities. They are using marketing as a tool
                           to direct their funds to the water quality issues and
                           the communities where it is most needed.

                           Some of the objectives of a comprehensive marketing
                           approach are to:

                             Increase demand for CWSRF financial assistance so
                             that available funds are fully used;

                           • Reach more entities eligible for assistance by
                             promoting the wide variety of funding options,
                             particularly those highlighted in the white paper, and
                             by building awareness of the benefits of the CWSRF;

                           • Direct funds so they achieve state water quality
                             goals  by increasing awareness of the types of
                             projects eligible for financing under the CWSRF;
                           • Publicize successes to community leaders, citizens
                             and legislators;
                                                                 Since 2006, several states have undertaken efforts to
                                                                 better understand current and potential borrowers
                                                                 and to develop new outreach techniques. In a number
                                                                 of these states, the efforts have begun with a survey
                                                                 or focus group of current and potential borrowers. In
                                                                 the last two years, 10 states have conducted surveys
                                                                 or focus groups to better understand the perceptions
                                                                 that stakeholders have of their CWSRF. These information
                                                                 gathering exercises have resulted in new outreach
                                                                 strategies (to be highlighted in this and future issues
                                                                 of SRF's Up).This issue covers Iowa's focus group, New
                                                                 Mexico's marketing plan, New Jersey's website, and
                                                                 Arizona's one-stop shop. In addition, there are other
                                                                 examples of interesting activities and tools
                                                                 being used in some states. For more information on
                                                                 marketing in your CWSRF program, contact Sheila
                                                                 Platt at EPA at platt.sheila@epa.gov.

                                                                 Iowa: Putting  Program Improvements
                                                                 to Work

                                                                 In recent years, Iowa's CWSRF has implemented several
                                                                 improvements to their program. They added 0% plan-
                                                                 ning and design loans, rolling applications, assistance
                                                                 with the environmental review, and extended term
                                                                 financing to their program offerings. In addition, they
                                                                 recently updated  their outreach materials, including
                                                                 designing new brochures, which were sent to all
                                                                 communities in the state, and reformulating the
                                                                 Intended Use Plans and Annual Reports to serve as
                                                                 comprehensive documents aimed  at the wider
                                                                 public, rather than just EPA.

                                                                 The program, which is jointly managed by the Iowa
                                                                 Department of Natural Resources (DNR) and the Iowa
                                                                 Finance Authority (IFA), was looking for new opportu-
                                                                 nities to market the program and its recent improve-
                                                                 ments. In July 2007, IFA and DNR, with EPA's assistance,
                                                                 held a half-day focus group of potential borrowers.
                                                                 The seven focus group participants were  community
                                                                 leaders who have decision-making authority for water
                                                                 and wastewater infrastructure financing.

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                                                                    SPRING 2008
                                CWSRFSRF'S UP NEWSLETTER
5
Focus group participants discussed their perceptions
of the CWSRF, the criteria upon which they base their
financing decisions, and the best ways to reach
communities about the opportunities provided by
CWSRF financing. CWSRF managers learned that many
communities were unaware of the recent program
improvements, were surprised by the range of assistance
types available through the CWSRF, and were eager to
learn more about requirements, timeline and other
features of the programs. A summary of the findings
from the focus group can be found on the CWSRF
Discussion Board, http://cwsrf.invisionzone.com.

Focus group participants were impressed by IFA's new
marketing materials and thought they were eye-catching
and professional. IFA's new brochures, one of which
includes a "calculator'that displays the cost savings of
the CWSRF compared to bonds, received high marks
from the group. The brochures contain marketing
messages that are thought to be effective in motivating
potential borrowers to pursue CWSRF loans and
financing, such as "below-marketing interest rates"
and "30-year terms."

Iowa has begun implementing many of the suggestions
offered by the focus group participants. DNR and IFA
are currently:

• Developing a "brand"for their CWSRFs, which integrate
  the elements and opportunities of the programs;

• Jointly designing new brochures and developing
  case studies of successful and interesting projects;

* Continuing to promote DNR's environmental review
  coordinator, who reduces the applicant's workload
  by taking  over the fed era I  crosscutter process;

  Reaching  out to communities by conducting
  workshops around the state, and distributing the
  Intended  Use Plans (lUPs), Annual Reports and
  brochures widely.

Iowa's comprehensive and proactive approach to
marketing will ensure that the impact of the CWSRF
on state water quality will continue to grow. For more
information, visit Iowa's website at www.iowasrf.com.
Rethinking Marketing in New Mexico's
CWSRF

2006 marked the development of the first marketing
plan for New Mexico's CWSRF program. During its
annual strategic planning meeting, the Environment
Department's Construction Programs Bureau (CPB),
which administers the CWSRF, determined that a
successful marketing strategy was essential to the
continued growth of their program.

CPB has been focusing on implementing its marketing
strategy, a large component of which is to identify
new potential customers and improve program pace.
Some of the new activities being carried out include:

» Visiting communities to provide information about
  CPB's funding programs;

  Attending conferences and workshops;

° Coordinating with other agencies that provide
  wastewater infrastructure financing; and

• Partnering  with engineering firms, Councils of
  Governments, professional organizations, and
  other groups.

New Mexico's efforts have been paying off so far:
CWSRF assistance as a percent of funds available (pace)
increased from 70% in 2005 to 84% in 2007. State
CWSRF managers plan to continue evaluating their
outreach efforts to ensure that they remain effective.

Effective Marketing: An Example
from New Jersey

The New Jersey Environmental Infrastructure Trust's
website (www.njeit.org) provides a good example of
how a website can  be an effective SRF marketing tool.
New Jersey's  CWSRF program is a partnership of the
NJ Department of Environmental Protection and the
Trust, and the Trust does an excellent job of promoting
the benefits of the program on its site. The most
visible feature on the home page is the description of
the significant cost benefits of an SRF loan. In addition,
                                                                             continue on the next page >

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CWSRF SRF'S UP NEWSLETTER  I  SPRING 2008
        OS
                            Financing
                           environmental
                         nfrastructure projects
                           and open space
                         acquisitions for more
                           Chan 20 years!
                                                               Workshop - Nov. 13
                                                             35 2007 Funilinu Pi
                           Our financing program easrly beats the competition. Sinc
                           have provided almost $4 billion in loans for drinking wate
                           wastewater, stormwater, and land acquisition projects.
  Department ol
            DEP Division of Water
            Quality
            DEP Municipal Finance
                           When searching for a lender, be
                                              mpare interest rates along
                     with traditional financing. Youll b
        The New Jersey
        Environmental
        Infrastructure
        Trust's website
        effectively markets
        the state's
        CWSRF program.
                   there are a number of links for more information on
                   requirements, case studies and contacts for those
                   seeking additional information. The New Jersey SRF
                   website is concise, clear and provides easy-to-find
                   information on the benefits of the program.

                   One-Stop Shopping in Arizona

                   One-stop shopping, where various funding programs
                   come together to coordinate financing for projects
                   and provide technical assistance, can be a valuable
                   outreach tool. One-stop shopping can bring the
                   CWSRF to the attention of new communities and
can result in communities receiving CWSRF financing
when they may not have thought to apply directly.
Arizona's one-stop shopping option, the Rural Water
Infrastructure Committee (RWIC), focuses on providing
affordable funding solutions and technical assistance
to small, rural communities throughout the state.
RWIC provides a single location for potential borrowers
to find federal, state and local financial assistance
programs and to choose which program or combination
of programs is appropriate for their needs.

RWIC holds monthly meetings throughout the state
to discuss projects and allow communities to present
their projects to the committee directly. The Water
Infrastructure Finance Authority (WIFA), which
administers Arizona's SRF programs, leads RWIC.
The RWIC funding partners work with communities
and provide practical suggestions for technical,
operational or financial issues, provide assistance with
loan applications, and provide technical assistance.
Since summer 2007, RWIC has been demonstrating
the EPA Financing Alternatives Comparison Tool
(FACT) at their meetings and making it available to
communities.To date, at least one community has
said that it chose the SRF because of FACT.
FACT can be  downloaded from  EPAs website at http://
www.epa.gov/owm/cwfinance/cwsrf/fact.htm.  O
                            THE 2007  PISCES  AWARDS!
                            The 3rd
I                                annual PISCES (Performance and Inno-
                                vation in the SRF Creating Environ-
                  mental Success) Awards recognized states that were
                  innovative and effective at advancing EPA's goals of
                  performance and protection through the Clean Water
                  State Revolving Fund program. The award was given to
                  one state from each of the ten EPA regions. Winners
                  were recognized at the national SRF workshop hosted
                  by the Council for Infrastructure Financing Authorities
                  (CIFA) in Denver, CO in November 2007.

                  The winners of the 2007 CWSRF PISCES Awards are:

                  Region 1 - Rhode Island: Rhode Island has repaired or
                  replaced 400 failing or substandard septic systems to
date, significantly improving water quality in many of
the state's small communities.

Region 2 - New Jersey: New Jersey has provided over
$240 million in low interest loans to private entities to
remediate more than 800 acres of land that, prior to
treatment, let thousands of gallons of leachate seep
into surrounding waters daily.

Region 3 -Virginia:Virginia initiated  innovative
partnerships with Farm Credit Associations throughout
the state, providing CWSRF financing for a substantial
number of agricultural BMPs and reducing agricultural
runoff into Virginia waters.

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                                                                   SPRING 2008
                          CWSRFSRF'S UP NEWSLETTER
Region 4 - Florida: Florida is a national leader in water
conservation and efficiency. They recently implemented
an innovative project that included the installation of
horizontal well technology to withdraw and filter surface
and groundwater for reuse.

Region 5 - Minnesota: Minnesota's Agricultural Best Manage-
ment Practices Loan Program, a subsidiary of the State's
CWSRF program, is one of the leading environmental loan
programs in the country, averaging more than two closed
loans per day for the last five years.

Region 6 -Texas: Texas is  remarkable for its support of water
efficiency through water reuse and conservation; projects
include a wastewater reclamation initiative to deliver
reclaimed water from the City of Austin's wastewater
treatment plant to two city-owned properties.

Region 7 - Missouri: Through the Missouri Agricultural and
Small Business Development Authority, Missouri lends CWSRF
funds to farmers to purchase animal waste collection equip-
ment and to construct animal waste storage and distribution
facilities, reducing runoff into state waterways.

Region 8 - Colorado: By leveraging CWSRF funds, Colorado
has provided additional financial assistance totaling over
7
                                                   From left to right:
                                                   Charles Unseld with the
                                                   Colorado Dept. of Local
                                                   Affairs; Donna Davis,
                                                   Colorado Dept. of
                                                   Public Health and
                                                   Environment; Daniel
                                                   Law, Colorado Water
                                                   Resources and Power
                                                   Development Authority;
                                                   andJimHanlon,OWM
                                                   Director, U.S. EPA.
$440 million, directly contributing to hundreds of systems
achieving and/or maintaining compliance.

Region 9 - Nevada: Nevada has formed partnerships
with federal, state, and local agencies in order to improve
the cost effectiveness of its SRF loans, reduce workload
expenditures and increase local participation.

Region 10-Washington: Asa result of effective marketing,
Washington's program is well-known and has strong demand
to fund POTWs, nonpoint source and estuary projects.

Each year the awards alternate between recognizing
states and CWSRF assistance recipients. This year, the
PISCES Awards will honor CWSRF assistance recipients.
Each state CWSRF program will have the opportunity to
nominate one or more of its CWSRF projects. Applications
must be received by July 1,2008. Contact Jonathan Clarke
at clarke.jonathan@epa.gov for more information.  O
UPDATES AND  INITIATIVES
SRF DISCUSSION FORUM
The SRF discussion forum was developed to increase commu-
nication between States, EPA Regions, EPA Headquarters,
and other interested groups on topics related to the SRF
program. It is an online resource for the SRF community to
share information, exchange ideas, and improve communication.
There are several different topic areas: CWSRF news, marketing
and outreach, environmental benefits, SRF training, the draft
white paper, accreditation, and the Financing Alternatives
Comparison Tool (FACT). The discussion board can be
accessed at http://cwsrf.invisionzone.com. Everyone in
the CWSRF community is encouraged to register.
CWSRF BENEFITS REPORTING SYSTEM
In 2005, the CWSRF Benefits Reporting System (CBR) was
introduced. The system collects information about the
environmental and public health effects of each project
funded by a CWSRF, serving as an approximate record of
the benefits provided by CWSRF-funded projects. CBR is the
product of a collaborative effort between states and EPA.
All fifty states and Puerto Rico now use it to track the environ-
mental impact of the projects funded. The system currently
includes information for over 4,700 projects. In 2007 alone,
CWSRF programs funded more than 946 projects designed
to protect and restore waterbodies.
                                 continue on the next page  >

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CWSRFSRF'S UP NEWSLETTER  I   SPRING 2008
                            FACT, FACT LITE, AND THE USER'S GUIDE
                            EPA's Financing Alternatives Comparison Tool (FACT)
                            can be used to easily and quickly assess what the most
                            cost effective way is to finance a water or wastewater
                            project. Users can compare over a dozen different
                            financing options, including SRF, bonds, grant/loan
                            combinations, and more.

                            Two new developments are FACT Lite and the Users
                            Guide. FACT Lite is exactly what its name implies -
                            a simpler, easier version of FACT, but with the same
                            powerful ability to compare financing costs. The Users
                            Guide is a comprehensive guide on effectively using
                            FACT and FACT Lite. EPA plans to release FACT Lite and
                            the FACT Users Guide this summer. All FACT materials
                            can be found on  EPA's CWSRF website,
                            http://www.epa.gov/owm/cwfinance/cwsrf/fact.htm.

                            ACCREDITATION PROGRAM
                            EPA is pleased to  announce that the CWSRF Financial
                            Accreditation Exam - Module 1: Basic SRF Financial
                            Management is now available. This is the first of
                            several exams that are being offered by EPA as an
                             UPCOMING EVENTS
            EPA White Paper Roundtables
            Roundtables are taking place in EPA Regions 1, 2, 3,4, 5,6, 9 and 10 to
            discuss the white paper. For more information, contact Jordan Dorfman
            at dorfman.jordan@epa.gov.
            2008 CIFA SRF Workshop
            October 19-21, 2008 — Providence, Rl. For more information please visit
            www.cifanet.org/conferences.html.
            Fall 2008 State/EPA Workgroup Meeting
            October 22, 2008 — Providence, Rl. For more information, contact
            Sheila Platt at platt.sheila@epa.gov.
            FEEDBACK
                      We would like to involve states and regions in
                     . developing future newsletter themes and
  articles. If you have ideas for topics or case studies that you would  like
  to see in the newsletter, please let us know by posting a message on
  the CWSRF discussion forum at http://cwsrf.invisionzone.com or by
  contacting Sheila Platt at platt.sheila@epa.gov.

  For more information on the CWSRF program, please visit the CWSRF
  discussion forum at http://cwsrf.invisionzone.com and the program's
  website at http://www.epa.gov/owm/cwfinance/cwsrf/index.htm.
accreditation program for SRF professionals. The exam
is a self-guided training tool designed to aid the
professional development of CWSRF financial analysts.
Participation is voluntary and the exam is open-book
to allow individuals to complete it at their own pace.
Module I covers topics that serve as the building
blocks of CWSRF financial management. The exam
and all other Accreditation Program materials, such
as the exam syllabus and reference guide, can be
accessed through the CWSRF Discussion Forum at
http://cwsrf.invisionzone.com.

MARKETING GUIDE
EPA is currently developing a marketing guide to
help states develop enhanced strategic planning and
marketing approaches for their CWSRF programs.
The marketing guide will discuss the importance of
marketing in the SRF, outline effective marketing tools,
describe how marketing can be  part of strategic
planning and management efforts and how to
develop a comprehensive and effective marketing
plan. The guide is slated for release this summer.

CWSRF ANNUAL REPORT
The 2007 Clean Water State Revolving Fund Programs
Annual Report is scheduled for release in June 2008.
The report coincides with the twenty year anniversary
of the Clean Water Act amendments that created the
CWSRF, and is aptly titled "Yesterday, Today and
Tomorrow: 20 Years of Progress."  The report provides
historical context for the creation of the CWSRF
programs, gives an overview of the innovative
activities currently underway, and looks forward to
new initiatives that will define the next twenty years
of the CWSRF.

2009 CWSRF CONFERENCE
Planning is underway for the 2009 CWSRF Conference!
The conference will be held in Chicago in mid-July,
2009 and will focus on the future of the CWSRF
program and its strategic management. Some of the
topics that will potentially be discussed are innovative
ways to take advantage of CWSRF eligibilities, how to
get more out of the SRF through assistance options
such as credit enhancements and guarantees, and how
priority-setting systems can be improved. Stay tuned
for more information on this important event! Q

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