(1) The problems and opportunities associated 

 with the water and related land resources in the 

 study area; 



(2) The overall resource capabilities of the study 

 area; 



(3) The available alternative measures; and 



(4) Preferences of and conflicts among State and 

 local entities and different segments of the public. 



(c) When institutional barriers would prevent im- 

 plementation of an economically attractive plan, al- 

 ternative plans which include removal of those bar- 

 riers should be presented where such plans are im- 

 plementable. 



Section VII — Accounts 



1.7.1 General. 



(a) Four accounts are established to facilitate 

 evaluation and display of the effects of alternative 

 plans. These accounts are: national economic de- 

 velopment (NED), environmental quality (EQ), re- 

 gional economic development (RED), and other 

 social effects (OSE). These four accounts encom- 

 pass all significant effects of a plan on the human 

 environment as required by the National Environ- 

 mental Policy Act of 1969 (NEPA) (42 U.S.C. 4321 

 et seq.). They also encompass social well-being as 

 required by Section 122 of the Flood Control Act of 

 1970 (Pub. L 91-611, 84 Stat. 1823). The EQ ac- 

 count shows effects on ecological, cultural, and 

 aesthetic attributes of significant natural and cultur- 

 al resources that cannot be measured in monetary 

 terms. The OSE account shows urban and commu- 

 nity impacts and effects on life, health and safety. 

 The NED account shows effects on the national 

 economy. The RED account shows the regional in- 

 cidence of NED effects, income transfers, and em- 

 ployment effects. 



(b) The NED account is the only required ac- 

 count. Other information that is required by law or 

 that will have a material bearing on the decision- 

 making process should be included in the other ac- 

 counts (EQ, RED, and OSE) or in some other ap- 

 propriate format used to organize information on ef- 

 fects. 



(c) The same effect may be shown only once 

 within a given account except that the OSE ac- 

 count may show the incidence of an effect from 

 more than one point of view. Beyond this excep- 

 tion, claiming the same benefit, cost, change in a 

 resource attribute, or effect more than once in a 

 given account would constitute double counting. 



(d) Relationships between short-term use of the 

 human environment and the maintenance and en- 

 hancement of long-term productivity should be dis- 

 played. Any irreversible or irretrievable commit- 

 ments of resources should be displayed. 



(e) Effects on the values and attributes of ground 

 water and instream flow should be displayed. 



(f) Effects of an alternative plan in the displays 

 are the differences between the forecasted condi- 

 tions with the plan and forecasted conditions with- 

 out the plan. 



(g) Effects in the NED account are to be ex- 

 pressed in monetary units. EQ effects are to be ex- 

 pressed in approprate numeric units or non-numeric 

 terms. RED and OSE effects are to be expressed 

 in monetary units, other numeric units, or non-nu- 

 meric terms. 



(h) Monetary values are to be expressed in aver- 

 age annual equivalents by appropriate discounting 

 and annualizing techniques using the applicable 

 discount rate. 



1.7.2 National Economic Development Account. 



(a) General. 



(1) The NED account describes that part of the 

 NEPA human environment, as defined in 40 CFR 

 1508.14, that identifies beneficial and adverse ef- 

 fects on the economy. 



(2) Beneficial effects in the NED account are in- 

 creases in the economic value of the national 

 output of goods and services from a plan; the value 

 of output resulting from external economies caused 

 by a plan; and the value associated with the use of 

 otherwise unemployed or under-employed labor re- 

 sources. 



(3) Adverse effects in the NED account are the 

 opportunity costs of resources used in implement- 

 ing a plan. These adverse effects include: Imple- 

 mentation outlays, associated costs, and other 

 direct costs. 



(4) Procedures which should be used for evaluat- 

 ing NED effects are in Chapter II of these Guide- 

 lines. 



(i) When an alternative procedure provides a 

 more accurate estimate of a benefit, the alternative 

 estimate may also be shown if the procedure is 

 documented. 



(ii) Steps in a procedure may be abbreviated by 

 reducing the extent of the analysis and amount of 

 data collected where greater accuracy or detail is 

 clearly not justified by the cost of the plan compo- 



