julie, wsip director. i will be giving the presentation. mr. clerk, if you would not mind connecting the computer. i will try to keep my remarks brief, because i know you have a 1:00. i am here to give you a very brief update on where the program stands, as well as requesting the release of funds that were previously placed on reserve. here is the status of the program as of early february. we only have seven projects that have yet to reach construction, and two are currently in the bid and award phase, meaning they will be shortly into construction. we currently have a total of 20 projects worth of over $2.5 brilliant construction, and construction has been completed on 54 projects. this is a chart that compares the forecasted costs of the program in blue to the approved projects for the program, shown in red. for the last four reporting quarters, we're trending well below the approved program budget. as a matter of fact, we currently have $144.5 million in extra savings placed in reserve. i want to take the apportionment before talk about the

in order for us to move forward on two key aspects of the wsip, we are requesting today the release of some funds that are currently on reserve with this committee. we created a bio-regional habitat restoration program to address some of the environmental impacts on the program. so far, the board has appropriated $90 million for this program and $41.7 million of the appropriations were placed on reserve. we're asking today for the release of $41.1 million of those funds that are in reserves. i think the budget analyst report did a very good job documenting the justification for that request. we're also asking for the release of $670,000 from the program management reserves to be reallocated to the tesla treatment facility project, a project where we reached substantial completion of construction in mid-2011, and we are currently in a one-year commissioning period for the project. again, the budget analyst report provides a good justification. i would be happy to answer any questions on today's request. we would like to thank the budget analyst for the their review of requests. we agree