A. The director shall establish a long-term storage account and a master replenishment account for each groundwater replenishment district.

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B. The director shall compute the master replenishment account debit for a reporting year for the district as follows:

1. For each district member, compute the replenishment obligations as prescribed by section 48-4463.

2. Add the amounts computed under paragraph 1 of this subsection for all district members.

C. For each reporting year, the amount computed under subsection B of this section for the district shall be debited from the district’s master replenishment account.

D. On application by a district to the director, credits in the district’s long-term storage account, including credits that are registered for water stored pursuant to article 6 of this chapter and for which a district has assumed responsibility pursuant to Section 45-896.01, shall be transferred and credited to the district’s master replenishment account.

E. For each reporting year, the director shall credit the district’s master replenishment account by the amount of water stored by the district during the reporting year, if the district has requested the director to credit the stored water directly to its master replenishment account and the stored water would otherwise be eligible for credits in a long-term storage account.

F. Credits in a master replenishment account may not be assigned or transferred out of the master replenishment account.

G. If the director, either through an audit of the records of the district or a district member pursuant to Section 45-880.01 or otherwise, establishes a misstatement or error regarding information relevant to the determination of master replenishment account debits or credits, the director may adjust accordingly the credits or debits for the appropriate year.