Section 16-1-203 - Account administration; board powers and duties; department powers and duties; fiscal procedures(a) The board shall administer the account including issuing loans and other forms of financial assistance for the purposes authorized in this article. The board shall adopt reasonable rules and regulations necessary to administer the account within the requirements of this article, Title VI and other federal laws. (b) The board shall: (i) Enter an agreement with the federal environmental protection agency regional administrator to receive capitalization grants for the account; (ii) Receive and review applications for financial assistance from the account from municipalities, counties, joint powers boards, state agencies and other entities constituting a political subdivision under the laws of the state on forms supplied by the board; (iii) Administer the account including processing and receiving repayments on all financial assistance; and (iv) Conduct or allow the federal environmental protection agency to conduct an annual audit. (c) The department shall: (i) Annually prepare and submit to the federal environmental protection agency and the joint minerals, business and economic development interim committee of the legislature an intended use plan which has been subject to public comment and which identifies the intended uses of monies available to the account; (ii) Prepare and submit an annual report required by Title VI; and (iii) Evaluate engineering designs and studies and evaluate technical and administrative management of contracts for all projects in accordance with Title VI. (d) The board and all recipients of financial assistance from the account shall establish fiscal controls and accounting procedures required by Title VI.