The primary purpose of the Inventory is to identify storage capacity available to the Arizona Water Banking Authority to meet its water storage goals. Inclusion of a facility in the Inventory does not equate to a commitment by the AWBA to utilize any specific facility in the future. The AWBA will continue to determine annually which facilities will be used through the development of the Annual Plan of Operation. Conversely, not including a facility in the Inventory does not preclude the AWBA from utilizing that facility in a future Annual Plan. It does, however, preclude the facility from being utilized for interstate water storage, until such time as it is included in an updated Inventory.

Water banking is one of Arizona's most important water management strategies, and its success depends on effective planning. This joint plan helps advance the objective, articulated in the intergovernmental agreement among CAP, ADWR and AWBA, to develop a coordinated and cooperative planning process that includes distribution and recovery of water stored by the AWBA.

The purpose of the Inventory is to determine whether storage facilities exist in this state to meet the water storage needs of the authority for the following ten years. The Authority approved the initial Inventory in 1997. Because additional storage facilities are continually being constructed, the Authority updates the Inventory at least once every five years. The Authority has been annually updating all new facilities that could be utilized by the Authority in its Annual Report. It is important to note that the primary purpose of the Inventory is to identify the capacity that is available for potential storage by the Authority to meet its objectives. The inclusion of a facility in the Inventory does not equate to a commitment by the Authority that the facility will be utilized for water banking purposes in the future. The Authority will continue to determine annually which facilities will be used through the development of an Annual Plan of Operation. Conversely, a facility that is not included in the Inventory may be utilized in a future Annual Plan of Operation.

Raising Arizona was the challenge of the 20th century. Sustaining Arizona is now the challenge of the 21st. A crucial part of that task is not just understanding today’s knowledge economy, but mastering it.
If the state makes this fundamental transition, the brief history of Arizona’s future will read simply: They succeeded in the second stage. Human capital took its rightful place as a chief component of competitiveness. As a result, the story will go, Arizona moved into the top ranks of economic leadership after years in the second tier. Equity and prosperity resulted too. Most important, the state was ready for the next stage of competition. This happy ending for Arizona, of course, has been envisioned repeatedly over time. And in fact, a variety of human capital policies and programs to achieve it are in place. However, many would say that human capital is an area of unfinished business for Arizona. The Arizona Minority Education Policy Analysis Center (AMEPAC) developed "To Learn and Earn" to highlight the issues and asked Morrison Institute for Public Policy at Arizona State University to support the effort with research and analysis. In turn, AMEPAC will present the issues to Arizona stakeholders for their feedback. This process will kick off a multi-partner series of policy action projects. The first results will be presented in November 2009 at the next human capital conference presented by the Arizona Commission for Postsecondary Education.