Difference between revisions of "Colorado state budget"

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(Fiscal Year 2012 State Budget)
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{{budget infobox|
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{{budget infobox2|
state = Colorado |
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| state = Colorado  
image = Flag of Colorado.png|
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| image = Flag of Colorado.png|
budgetcal = Annual |
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| budgetcal =
fiscalyear = 2013 |
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| fiscalyear =
datelaw= May 7, 2012 |
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| credit=
lasteraltered |
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| percentchangedr =   
revenue = |
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| expenses =  
Percentchangedr = |
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| all funds expenses =
Expenses = |
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| spending change =  
Percentchanged = |
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| change =
}}
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| governor =  
[[Colorado]] operates on an annual budget cycle. Its fiscal year begins July 1.
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| % federal =
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| state debt =  
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| per cap debt =
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}}{{tnr|limit=3}}This page contains information about '''budget processes and policy issues''' in [[Colorado]], including:
 +
* A summary of the budget drafting process
 +
* Trends in expenditures and revenues
 +
* Current and past fiscal year budget developments
 +
* Financial transparency measures
  
Colorado's total budget for FY2013 was approximately $20 billion. Lawmakers controlled only a portion of that budget, and that portion included the $7.4 billion General Fund that lawmakers approved in April 2012.<ref>[http://www.aurorasentinel.com/email_push/news/article_ce26b024-9068-11e1-9e3e-0019bb2963f4.html The Aurora Sentinel "Lawmakers finish work on Colorado budget" April 27, 2012]</ref> Governor [[John Hickenlooper|John Hickenlooper]] signed the state budget into law on May 7, 2012.<ref>[http://www.krdo.com/news/31022995/detail.html KRDO.com May 7, 2012]</ref> It increases spending more than 6 percent over the prior year.<Ref name=rdo/>
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Between fiscal year 2009 and fiscal year 2013, Colorado's total expenditures XXincreased/decreasedXX by approximately $XXX billion, from $XXX billion in 2009 to $XXX billion in 2013. This represents an XXX percent increase, Xoutpacing/below/equivalent toX the cumulative rate of inflation during the same period (9.06 percent, calculated using the Consumer Price Indices for January 2009 and January 2013).<ref>[http://www.bls.gov/cpi/cpid1402.pdf ''Bureau of Labor Statistics'', "CPI Detailed Report Data for February 2014," accessed April 9, 2014]</ref><ref>[http://inflationdata.com/Inflation/Inflation_Calculators/Cumulative_Inflation_Calculator.aspx ''InflationData.com'', "Cumulative Inflation Calculator," February 28, 2014]</ref>
  
As of August 2012, Colorado had a total state debt of approximately $78,514,721, when calculated by adding the total of outstanding official debt, pension and other post-employment benefits (OPEB) liabilities, Unemployment Trust Fund loans, and FY2013 budget gap.<ref>[http://www.statebudgetsolutions.org/publications/detail/state-budget-solutions-third-annual-state-debt-report-shows-total-state-debt-over-4-trillion State Budget Solutions "State Budget Solutions' third annual State Debt Report shows total state debt over $4 trillion" Aug. 28, 2012]</ref> The debt total is less than the prior year's total of $80,386,294,000.<Ref>[http://www.statebudgetsolutions.org/publications/detail/report-reveals-aggregate-state-debt-exceeds-4-trillion-2 State Budget Solution “Report reveals aggregate state debt exceeds $4 trillion” Oct. 24, 2011]</ref>
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==Budget process==
 +
{{Colorado budget process}}
  
As of October 2012, Colorado's total state debt per capita was $15,344.51.<ref>[http://www.statebudgetsolutions.org/publications/detail/state-debt-more-than-37000-per-private-worker-13000-per-capita State Budget Solutions "State debt more than $37,000 per private worker, $13,000 per capita" Oct. 2, 2012]</ref>
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==Expenditures==
 +
===Definitions===
 +
{{Budget types background}}
 +
===2013 expenditures===
 +
[[File:Colorado total expenditures 2013.png|right|thumb|500px|Breakdown of expenditures in FY 2013.<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
 +
The table below breaks down expenditures for fiscal year 2013 (comparable figures from surrounding states are provided to give additional context).<ref name=expenditures2013>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2011-2013," accessed February 21, 2014]</ref> Figures for all columns except "Per capita expenditures" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita expenditures" have not been abbreviated.
  
::''See also: [http://www.statebudgetsolutions.org/state/detail/colorado The Colorado State Budget on State Budget Solutions]''
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{| class="wikitable" style="text-align:center; width:55%;"
 +
! colspan="7" align="center" style="background-color:#008000; color: white;" | Total state expenditures, FY 2013 ($ in millions)<ref name=expenditures2013/>
 +
|-
 +
! valign="bottom" style="background-color:#444; color: white;" | State
 +
! valign="bottom" style="background-color:#444; color: white;" | General fund
 +
! valign="bottom" style="background-color:#444; color: white;" | Federal funds
 +
! valign="bottom" style="background-color:#444; color: white;" | Other funds
 +
! valign="bottom" style="background-color:#444; color: white;" | Bonds
 +
! valign="bottom" style="background-color:#444; color: white;" | Total
 +
! valign="bottom" style="background-color:#444; color: white;" | Per capita expenditures
 +
|-
 +
|'''Colorado''' || '''$7,942''' || '''$7,334''' || '''$13,203''' || '''$0''' || '''$28,479''' || '''$5,405.66'''
 +
|-
 +
|[[Idaho state budget|Idaho]] || $2,699 || $2,792 || $1,718 || $33 || $7,242 || $4,492.18
 +
|-
 +
|[[Montana state budget|Montana]] || $1,947 || $2,115 || $1,978 || $0 || $6,040 || $5,949.77
 +
|-
 +
|[[Utah state budget|Utah]] || $4,990 || $3,405 || $3,739 || $469 || $12,603 || $4,344.56
 +
|-
 +
|[[Wyoming state budget|Wyoming]] || $3,709 || $2,353 || $2,549 || $0 || $8,611 || $14,778.82
 +
|-
 +
|align="left" colspan="8" | <small>Per capita figures are calculated by taking the state's total expenditures and dividing by the number of state residents according to United States Census estimates.<ref name=2013census/><ref name=2009census>[https://www.census.gov/popest/data/historical/2000s/vintage_2009/index.html ''United States Census Bureau'', "Vintage 2009: Annual Population Estimates," accessed February 26, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 +
|}
  
==Federal Aid to State Budget==
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===Expenditures by function===
 +
[[File:Colorado expenditures by type 2012.png|right|thumb|500px|Breakdown of expenditures by function in FY 2012.<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
 +
State expenditures in Colorado can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2012 data is included in the table below (information from neighboring states is provided for additional context). Figures are rendered as percents, indicating the share of the total budget spent per category.
  
The chart below represents how much of the state’s budget comes from the federal government. The number is the corresponding ranking in relation to the rest of the nation (if #1, the state receives the highest percentage of federal funding in the nation):
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{| class="wikitable" style="text-align:center; width:55%;"
{| class="wikitable sortable"
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! colspan="8" align="center" style="background-color:#008000; color: white;" | Expenditures by function, FY 2012 (as percents)<ref name=expenditures2013/>
| align="center" style="background:#f0f0f0;"|'''State'''
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| align="center" style="background:#f0f0f0;"|'''2008'''
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| align="center" style="background:#f0f0f0;"|'''2009'''
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| align="center" style="background:#f0f0f0;"|'''2010'''
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| align="center" style="background:#f0f0f0;"|'''2011'''
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|-
 
|-
| Colorado || 25.29% (#40) || 28.89% (#40) || 32.41% (#40) || 32.05% (#38)
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! valign="bottom" style="background-color:#444; color: white;" | State
|}
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! valign="bottom" style="background-color:#444; color: white;" | Elementary and secondary ed.
*Figures were calculated by dividing each state’s intergovernmental revenue into its general revenue.<ref>[http://www.census.gov/compendia/statab/cats/state_local_govt_finances_employment/federal_aid_to_state_and_local_governments.html '''US Census''' Federal Aid to State and Local Governments]</ref><ref>[http://taxfoundation.org/blog/monday-map-federal-aid-state-budgets ''Tax Foundation''' "Monday Map: Federal Aid to State Budgets. Accessed October 15, 2013]</ref>
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! valign="bottom" style="background-color:#444; color: white;" | Higher ed.
 +
! valign="bottom" style="background-color:#444; color: white;" | Public assistance
 +
! valign="bottom" style="background-color:#444; color: white;" | Medicaid
 +
! valign="bottom" style="background-color:#444; color: white;" | Corrections
 +
! valign="bottom" style="background-color:#444; color: white;" | Transportation
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! valign="bottom" style="background-color:#444; color: white;" | Other
 +
|-
 +
|'''Colorado''' || '''25.3%''' || '''9.0%''' || '''0.0%''' || '''20.7%''' || '''2.7%''' || '''5.4%''' || '''36.9%'''
 +
|-
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|[[Idaho state budget|Idaho]] || 25.7% || 8.1% || 0.3% || 27.2% || 3.7% || 10.9% || 24.2%
 +
|-
 +
|[[Montana state budget|Montana]] || 15.5% || 9.8% || 0.5% || 16.8% || 3.1% || 12.7% || 41.5%
 +
|-
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|[[Utah state budget|Utah]] || 24.7% || 11.9% || 0.9% || 17.5% || 2.0% || 9.2% || 33.9%
 +
|-
 +
|[[Wyoming state budget|Wyoming]] || 3.9% || 5.5% || 0.0% || 9.5% || 4.6% || 9.5% || 66.9%
 +
|-
 +
|align="left" colspan="8" | <small>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 +
|}
  
==Fiscal Year 2014 State Budget==
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===Expenditure trends===
 +
From 2008 to 2012, elementary and secondary education spending fell by more than five percent. Similarly, higher education spending also fell by roughly five percent. Meanwhile, Medicaid spending rose by 9.6 percent during the same period. The table below details changes in expenditures from 2008 to 2012.<ref name=expenditures2013/><ref name=expenditures2011>[http://www.nasbo.org/sites/default/files/2010%20State%20Expenditure%20Report_0.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009-2011," accessed February 24, 2014]</ref><ref name=expenditures2012>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report%20%28Fiscal%202010-2012%29.pdf ''National Association of State Budget Officers'', "State Expenditures Report, 2010-2012," accessed February 24, 2014]</ref><ref name=expenditures2009>[http://www.nasbo.org/sites/default/files/2009-State-Expenditure-Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009," accessed February 24, 2014]</ref><ref name=expenditures2008>[http://www.nasbo.org/sites/default/files/FY08%20State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2008," accessed February 24, 2014]</ref> Figures are rendered as percents, indicating the share of the total budget spent per category.
  
On Nov. 1, 2012, Governor [[John Hickenlooper|John Hickenlooper]] presented his proposed $20.3 billion FY2014 state budget.<ref name=dp>[http://www.denverpost.com/recommended/ci_21905733 The Denver Post "Colorado Gov. Hickenlooper proposes $20.3 billion budget for 2013-14" Nov. 1, 2012]</ref> The governor's budget proposal can be found [http://www.colorado.gov/cs/Satellite?c=Document_C&childpagename=GovHickenlooper%2FDocument_C%2FCBONAddLinkView&cid=1251633471750&pagename=CBONWrapper here].
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{| class="wikitable" style="text-align:center; width:65%;"
 +
! colspan="8" align="center" style="background-color:#008000; color: white;" | Expenditures from 2008 to 2012 (as percents)
 +
|-
 +
! valign="bottom" style="background-color:#444; color: white;" | Year
 +
! valign="bottom" style="background-color:#444; color: white;" | Elementary and secondary ed.
 +
! valign="bottom" style="background-color:#444; color: white;" | Higher ed.
 +
! valign="bottom" style="background-color:#444; color: white;" | Public assistance
 +
! valign="bottom" style="background-color:#444; color: white;" | Medicaid
 +
! valign="bottom" style="background-color:#444; color: white;" | Corrections
 +
! valign="bottom" style="background-color:#444; color: white;" | Transportation
 +
! valign="bottom" style="background-color:#444; color: white;" | Other
 +
|-
 +
|2012 || 25.3% || 9.0% || 0.0% || 20.7% || 2.7% || 5.4% || 36.9%
 +
|-
 +
|2011 || 23.9% || 13.6% || 0.0% || 17.8% || 2.4% || 4.7% || 37.5%
 +
|-
 +
|2010 || 24.7% || 14.2% || 0.0% || 15.3% || 2.6% || 4.6% || 38.6%
 +
|-
 +
|2009 || 25.7% || 14.9% || 0.0% || 14.1% || 3.0% || 5.9% || 36.5%
 +
|-
 +
|2008 || 31.0% || 13.9% || 0.1% || 11.1% || 3.0% || 6.6% || 34.2%
 +
|-
 +
|style="background-color:black; color:white"|'''Change in %'''
 +
| style="background-color:black; color:white" align="center"|'''-5.7%''' || align="center" style="background-color:black; color:white"|'''-4.9%'''|| align="center" style="background-color:black; color:white"| '''-0.1%''' || align="center" style="background-color:black; color:white"|'''9.6%''' ||align="center" style="background-color:black; color:white"| '''-0.3%''' || align="center" style="background-color:black; color:white"|'''-1.2% ''' || align="center" style="background-color:black; color:white"|'''2.7% '''
 +
|-
 +
|align="left" colspan="8" | <small>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 +
|}
  
Under the governor's proposed budget, total spending would increase by 5.4 percent over FY2013, with healthcare spending seeing the largest increase.<ref name=dp/> The plan did not make any major cuts.<ref name=not>[http://www.cbsnews.com/8301-505245_162-57544282/co-budget-plan-focuses-on-investments-not-cuts/ CBSNews.com "CO budget plan focuses on investments, not cuts" Nov. 2, 2012]</ref>
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==Revenues==
 +
===2013 revenues===
 +
[[File:Colorado GF revenues 2013.png|right|400px|thumb|Breakdown of general fund revenue sources in FY 2013.<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
 +
The table below breaks down general fund revenues by source in fiscal year 2013 (comparable figures from surrounding states are also provided to give additional context).<ref name=expenditures2013>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2011-2013," accessed February 21, 2014]</ref> Figures for all columns except "Per capita revenue" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita revenue" have not been abbreviated.
  
Under the proposed budget, the state general fund would increase to $8.1 billion next year, up from about $7.6 billion in FY2013. The state's total funds budget, including the general fund, cash funds and federal money, would grow to $21.9 billion, an increase of $1.1 billion<ref name=not/>, which is 5.5 percent.<ref name=release>[http://www.colorado.gov/cs/Satellite?c=Page&childpagename=GovHickenlooper%2FCBONLayout&cid=1251633509961&pagename=CBONWrapper Governor's Press Release "Proposed budget for FY 2013-14 boosts funding for education, economic development and restores cuts for critical state services" Nov. 1, 2012]</ref>
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{| class="wikitable" style="text-align:center; width:55%;"
 +
! colspan="8" align="center" style="background-color:#008000; color: white;" | Revenue sources in the general fund, FY 2013 ($ in millions)<ref name=expenditures2013/>
 +
|-
 +
! valign="bottom" style="background-color:#444; color: white;" | State
 +
! valign="bottom" style="background-color:#444; color: white;" | Sales tax
 +
! valign="bottom" style="background-color:#444; color: white;" | Personal income tax
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! valign="bottom" style="background-color:#444; color: white;" | Corporate income tax
 +
! valign="bottom" style="background-color:#444; color: white;" | Gaming tax
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! valign="bottom" style="background-color:#444; color: white;" | Other taxes and fees
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! valign="bottom" style="background-color:#444; color: white;" | Total
 +
! valign="bottom" style="background-color:#444; color: white;" | Per capita revenue**
 +
|-
 +
|'''Colorado''' || '''$2,186''' || '''$5,642''' || '''$640''' || '''$13''' || '''$111''' || '''$8,592''' || '''$1,630.87'''
 +
|-
 +
|[[Idaho state budget|Idaho]] || $1,152 || $1,313 || $194 || $0 || $140 || $2,799 || $1,736.21
 +
|-
 +
|[[Montana state budget|Montana]] || $62 || $1,048 || $177 || $57 || $734 || $2,078 || $2,046.96
 +
|-
 +
|[[Utah state budget|Utah]] || $1,633 || $2,652 || $313 || $0 || $495 || $5,093 || $1,755.68
 +
|-
 +
|[[Wyoming state budget|Wyoming]] || $499 || $0 || $0 || $0 || $549 || $1,048 || $1,798.65
 +
|-
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| align="left" colspan="8" | <small>Per capita figures are calculated by taking the state's total revenues and dividing by the number of state residents according to United States Census estimates for 2013.<ref name=2013census>[http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk ''United States Census Bureau'', "Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2013," accessed February 26, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 +
|}
  
Spending increases in the proposed budget include:
+
===Revenue trends===
*$213 million more for K-12 education, an increase of 4.8 percent, the equivalent of a $185 per pupil, over the current year.<ref name=dp/> It would bring the K-12 education budget to $3 billion, the largest part of the general fund.<ref name=not/>
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The table below details the change in revenue sources in the general fund from 2009 to 2013.<ref name=expenditures2013/><ref name=expenditures2011/> Figures for all columns except "Per capita revenue" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita revenue" have not been abbreviated.
  
*$68.3 million , or 2.3 percent, more for higher education, as well as permission for colleges to increase tuition by 9 percent.<ref name=dp/>
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{| class="wikitable" style="text-align:center; width:65%;"
 +
! colspan="8" align="center" style="background-color:#008000; color: white;" | Revenue sources in the general fund, Colorado ($ in millions)<ref name=expenditures2013/><ref name=expenditures2011>[http://www.nasbo.org/sites/default/files/2010%20State%20Expenditure%20Report_0.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009-2011," accessed February 24, 2014]</ref>
 +
|-
 +
! valign="bottom" style="background-color:#444; color: white;" | Year
 +
! valign="bottom" style="background-color:#444; color: white;" | Sales tax
 +
! valign="bottom" style="background-color:#444; color: white;" | Personal income tax
 +
! valign="bottom" style="background-color:#444; color: white;" | Corporate income tax
 +
! valign="bottom" style="background-color:#444; color: white;" | Gaming tax
 +
! valign="bottom" style="background-color:#444; color: white;" | Other taxes and fees
 +
! valign="bottom" style="background-color:#444; color: white;" | Total
 +
! valign="bottom" style="background-color:#444; color: white;" | Per capita revenue**
 +
|-
 +
|2013 || $2,186 || $5,642 || $640 || $13 || $111 || $8,592 || $1,630.87
 +
|-
 +
|2012 || $2,388 || $5,012 || $487 || $20 || -$170 || $7,736 || $1,490.71
 +
|-
 +
|2011 || $2,234 || $4,496 || $394 || $20 || -$58 || $7,086 || $1,384.42
 +
|-
 +
|2010 || $1,981 || $4,084 || $372 || $16 || $334 || $6,787 || $1,344.44
 +
|-
 +
|2009 || $2,108 || $4,333 || $292 || $3 || $346 || $7,083 || $1,409.62
 +
|-
 +
|style="background-color:black; color:white"|'''Change in %'''
 +
| style="background-color:black; color:white" align="center"|'''3.70%''' || align="center" style="background-color:black; color:white"|'''30.21%'''|| align="center" style="background-color:black; color:white"| '''119.18%''' || align="center" style="background-color:black; color:white"|'''333.33%''' ||align="center" style="background-color:black; color:white"| '''-67.92%''' || align="center" style="background-color:black; color:white"|'''21.30%''' || align="center" style="background-color:black; color:white"|'''15.70%'''
 +
|-
 +
|align="left" colspan="8" | <small>Per capita figures are calculated by taking the state's total revenues and dividing by the number of state residents according to United States Census estimates.<ref name=2013census/><ref name=2009census>[https://www.census.gov/popest/data/historical/2000s/vintage_2009/index.html ''United States Census Bureau'', "Vintage 2009: Annual Population Estimates," accessed February 26, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 +
|}
  
*$57.8 million for aa 1.5 percent pay increase for state employees, who have not had a raise in 4 years. The governor, though, proposes that state employees split the cost of increases in health, life and dental and insurance costs.<ref name=dp/>
+
==State budgets by year==
 +
===Fiscal year 2014===
 +
{{Budget bill box
 +
|State = Colorado
 +
|Year = 2014
 +
|Link = http://www.leg.state.co.us/CLICS/CLICS2013A/csl.nsf/BillFoldersAll?OpenFrameSet SB13-230
 +
|Introduced = March 25, 2013
 +
|Days =
 +
|State House = April 5, 2013
 +
|Vote lower house =45-18-2
 +
|State Senate = March 28, 2013
 +
|Vote upper house = 19-15-1
 +
|Conference = April 12, 2013
 +
|Conference upper house vote =
 +
|Conference lower house vote =
 +
|Governor = [[John Hickenlooper]]
 +
|Signed = April 29, 2013
 +
|Vetoed =
 +
}}
  
*$2 million more on tourism, including a $500,000 campaign to give Colorado a "unified branding platform."<ref name=dp/>
+
On April 29, 2013, [[Colorado Governor|Governor]] [[John Hickenlooper]] signed the fiscal year 2014 state budget into law. The budget included a two percent pay raise for state employees effective July 1, 2013 and added approximately $13.3 million in total funds for the state's child welfare system. Some [[Republican]] legislators criticized the budget for excessive spending, citing what they characterized as a slow recovery from the national recession. Meanwhile, [[Democrat|Democratic]] Representative and [[Budget Committee, Colorado General Assembly |Joint Budget Committee]] Vice-chairwoman [[Claire Levy]] argued that Colorado's economic position was strong enough that programs did not need to be cut.<ref name=2014budget>[http://www.denverpost.com/ci_23131374/hickenlooper-sign-next-years-20-5-billion-colorado ''The Denver Post'', "Colorado Gov. Hickenlooper signs 2014 budget into law," April 29, 2014]</ref>
  
The proposal includes a rainy day reserve fund of 5 percent of the general fund, or $387.3 million. For FY2013, the budget provided a 4 percent reserve, which covered two weeks of operating expenses.  Increasing the fund to 5 percent would represent 18 days of operating expenses.<ref name=release/>
+
No [[Republican]] [[Colorado State Senate|Senators]] voted for the bill, and only nine [[Colorado House of Representatives|Representatives]] voted for it.<ref name=2014budget/>
  
==Budget transparency==
+
===Fiscal year 2013===
:''See also: [[Evaluation of Colorado state website]] or [[Constitutional provisions regarding reading of bills]]''
+
::''See also: [[Colorado state budget (2012-2013)]]
  
Article 5, Section 22 of the state constitution requires that the title of the bill be read when introduced, and at length on two different days in each house and full bill and amendments must be printed before final vote. It also requires votes in each house on two separate days.
+
===Fiscal year 2012===
 +
::''See also: [[Colorado state budget (2011-2012)]]
  
On June 4, 2009, [[Bill Ritter|Governor Ritter]] signed Colorado House Bill 1288, the "Colorado Taxpayer Transparency Act," into law.  The law required the creation of an online spending database.<ref name=trap>[http://www.leg.state.co.us/Clics/CLICS2009A/csl.nsf/fsbillcont3/1FA3FA03152B42CC87257552006D7E3F?Open&file=1288_01.pdf ''Colorado Taxpayer Transparency Act'']</ref>
+
===Fiscal year 2011===
 +
::''See also: [[Colorado state budget (2010-2011)]]
  
===Government tools===
+
===Fiscal year 2010===
The following table is helpful in evaluating the level of transparency provided by a state spending and transparency database:
+
::''See also: [[Colorado state budget (2009-2010)]]
{|style="width:100%" class=wikitable
+
|+ '''Criteria for evaluating spending databases'''
+
!State Database!![[Criteria for evaluating databases|Searchability]]!![[Criteria for evaluating databases|Grants]]!![[Criteria for evaluating databases|Contracts]]!![[Criteria for evaluating databases|Line Item Expenditures]]!![[Criteria for evaluating databases|Dept/Agency Budgets]]!![[Criteria for evaluating databases|Public Employee Salary]]
+
|-
+
|align=center|[http://tops.state.co.us/ Colorado T.O.P.]||{{partial}}||{{yes}}||{{yes}}||{{Yes (Sunshine Review)}}||{{yes}}||{{partial}}
+
|}
+
  
*Expenditures are not searchable, but rather navigable by three search methods.
+
==Historical spending==
*Grants are viewable as an expenditure category.
+
State budget historical spending below was compiled by the National Association for State Budget Officers. Figures reflect the reported "Total Expenditures" in Table 1. Figures for all columns are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000).<ref name=expenditures2013/><ref name=expenditures2012/>
*Contracts are posted and searchable through a Contract Management System that is linked to from the Transparency Online Project.<ref>[http://contractsweb.state.co.us/default.aspx State of Colorado - Contract Management System]</ref>
+
{{State budget historical spending
*Department and agency budgets are available through the Governor's Office of State Planning and Budgeting, which is linked to via the Transparency Online Project webpage.<ref>[http://www.colorado.gov/ospb Office of State Planning and Budgeting]</ref>
+
|State=Colorado
*Personnel costs to agencies and departments are viewable as expenditures, but only as total amounts. Individual employee salaries are not available.
+
|totalbudgets= 3
 +
|2011-2012genfund=7311
 +
|2011-2012otherfund=13775
 +
|2011-2012fedfund=7691
 +
|2011-2012bonds=0
 +
|2011-2012budgettotal=28777
 +
|2010-2011genfund=7278
 +
|2010-2011otherfund=14746
 +
|2010-2011fedfund=8893
 +
|2010-2011bonds=0
 +
|2010-2011budgettotal=30917
 +
|2009-2010genfund=7326
 +
|2009-2010otherfund=14515
 +
|2009-2010fedfund=9223
 +
|2009-2010bonds=0
 +
|2009-2010budgettotal=31064
 +
}}
  
===Transparency Legislation===
+
==State debt==
*In May 2011, the legislature enacted [http://www.leg.state.co.us/clics/clics2011a/csl.nsf/fsbillcont3/F12605DD93BDB7C58725783E006981F6?open&file=184_enr.pdf SB11-184] requiring the Colorado Department of Revenue to create an annual tax expenditure report by Jan. 1, 2013.<ref>[http://www.leg.state.co.us/clics/clics2011a/csl.nsf/fsbillcont/8230340893C048B88725780100604C50?Open&file=1104_01.pdf HOUSE BILL 11-1104]</ref>
+
According to a January 2014 report by the nonprofit organization State Budget Solutions, Colorado had a state debt of over $86 billion. Its state debt per capita was $16,748. The report revealed that state governments faced a combined $5.1 trillion in debt, 33 percent of annual gross state product. The obligation amounts to $16,178 per capita in the nation. A bulk of the state debt -- 79 percent -- was linked to unfunded [[public pensions]].<ref>[http://www.statebudgetsolutions.org/publications/detail/state-budget-solutions-fourth-annual-state-debt-report ''State Budget Solutions'', "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014]</ref><ref>[http://washingtonexaminer.com/exography-unfunded-public-employee-pensions-are-driving-state-debts-skyward/article/2542548 ''Washington Examiner'', "EXography: Unfunded public employee pensions drive state debts skyward," January 21, 2014]</ref>
 +
{{State debt box
 +
|State = Colorado
 +
|totaldebt=$86,879,414,000
 +
|totaldebtrank=17
 +
|percapdebt=$16,748
 +
|percapdebtrank=19
 +
|expenditures = $21,086,000,000
 +
|expendituresrank =25
 +
}}
  
===Multi-Measure Budget Transparency Profile===
+
===Public pensions===
 +
::''See also: [[Colorado public pensions]] and [[Colorado public employee salaries]]''
  
The [http://igpa.uillinois.edu/ Institute of Government and Public Affairs] at the [http://www.uillinois.edu/ University of Illinois] has created a [http://igpa.uillinois.edu/system/files/Colorado_Profile_IGPA_093011.pdf multi-measure transparency profile for Colorado], which measures state transparency as of September 2011 using indicators from a range of organizations, including Sunshine Review.  These indicators measure both website transparency and other recognized facets of governmental transparency.  In addition, IGPA presents four unique indicators of non-transparency based on the observation that transfers or reassignments between general and special funds can obscure the true fiscal condition of a state.
+
A 2012 report from the Pew Center on the States noted that Colorado's pension system was funded at 66 percent at the close of fiscal year 2010, well below the 80 percent funding level experts recommend. Consequently, Pew designated the state's pension system as cause for "serious concern."<ref name=coloradopew>[http://www.pewstates.org/research/state-fact-sheets/widening-gap-update-colorado-85899399291 Pew Center on the States "Widening Gap Update: Colorado," June 18, 2012]</ref>
  
In addition to the individual state profile, IGPA offers a [http://igpa.uillinois.edu/system/files/50_States_Transparency_Profiles.pdf 50-state comparison] and [http://igpa.uillinois.edu/content/state-transparency-profiles profiles for other states].
+
Taken together, the funding ratio for the state's pension systems decreased from 75.99 percent in fiscal year 2007 to 64.22 percent in fiscal year 2012, an 11.77 percent drop. Likewise, unfunded liabilities increased from just under $13 billion in fiscal year 2007 to nearly $22.8 billion in fiscal year 2012.<ref name=PERACAFR>[https://www.copera.org/pdf/5/5-20-12.pdf ''Public Employees' Retirement Association of Colorado'' "2012 Comprehensive Annual Financial Report," accessed October 31, 2013]</ref><ref name=FPPACAFR>[http://www.fppaco.org/toc_frames.html ''Fire and Police Pension Association of Colorado'' "2012 Comprehensive Annual Financial Report," accessed October 31, 2013]</ref>
===U.S. PIRG Following the Money report===
+
{{Following the Money 2014 Report by State|State=Colorado|Grade=B|Score=86|Level=Advancing}}
+
  
==Budget background==
+
===Credit ratings===
Colorado’s state revenue increased annually 1.9 percent for the period from FY 1999 to FY 2009 while three of its largest General Fund appropriations (K-12, Corrections, and Health) grew 5.4% each year on average. These three spending categories have grown from 54% of the General Fund budget in 1999 to 76% within a decade. They are estimated to increase their portion of the budget to 91% in five years.<ref name=tsun/>
+
States sometimes sell general obligation bonds to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). Credit rating agencies, such as Standard and Poor's, assign grades to states, evaluating their ability to pay the principal and interest on such bonds. Standard and Poor's grades range from AAA, the highest available, to BBB, the lowest. Generally speaking, a higher credit ranking indicates lower risk for an investor, which in turn lowers costs for taxpayers.<ref name=credit>[http://www.pewstates.org/projects/stateline/headlines/infographic-sp-state-credit-ratings-20012012-85899404785 ''Stateline: The Daily News Service of The Pew Charitable Trusts'', "Infographic: S&P State Credit Ratings, 2001-2012," July 13, 2012]</ref>
  
Colorado's fiscal year begins July 1 and ends June 30. State departments submit their budget proposals to the Governor's Office of State Planning and Budgeting as part of the executive budget process. The governor and his staff review the budget proposals and limit each department's budget request based on the governor's priorities, and they determine which new funding initiatives may be included in the request.<ref>[http://www.colorado.gov/cs/Satellite?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1224913553957&ssbinary=true ''State of Colorado'',"Budget Process and schedule," accessed March 19,2009]</ref> Departments submit budgets to the [http://www.state.co.us/gov_dir/leg_dir/jbc/jbchome.htm Joint Budget Committee] by November 1. Shortly thereafter the committee schedules hearings with each agency. The staff analysts brief the Committee on each budget request a few days prior to the hearing with a department. Briefings and hearings for most departments are scheduled in November and December. By February 1, the [[Colorado_Legislature|Legislature]] is required to certify, by joint resolution, the amount from the state's General Fund available for appropriation for the next fiscal year. Once the General Assembly convenes in early January a series of hearings and joint budget [[Colorado Sunshine Law for open meetings|meetings]] that run both through the [[Colorado_House_of_Representatives|House]] and the [[Colorado_Senate|Senate]]. Both houses must accept the final bill before it is signed into law.<ref>[http://www.state.co.us/gov_dir/leg_dir/jbc/jbcrole.htm ''State of Colorado'', "The role of the Joint Budget Committee in the budget process," accessed March 19, 2009]</ref>
+
The table below lists the Standard and Poor's credit ranking for Colorado from 2001 to 2012 (grades from surrounding states are provided for additional context).<ref name=credit/>
  
See [[Colorado state budget (2008-2009)]] for more information.
+
{| class="wikitable" style="text-align:center; width:55%;"
 +
! colspan="6" align="center" style="background-color:#008000; color: white;" | S&P credit ratings from 2001 to 2012
 +
|-
 +
! valign="bottom" style="background-color:#444; color: white;" |
 +
! valign="bottom" style="background-color:#444; color: white;" | '''Colorado'''
 +
! valign="bottom" style="background-color:#444; color: white;" | Idaho
 +
! valign="bottom" style="background-color:#444; color: white;" | Montana
 +
! valign="bottom" style="background-color:#444; color: white;" | Utah
 +
! valign="bottom" style="background-color:#444; color: white;" | Wyoming
 +
|-
 +
| 2012 || AA || AA+ || AA || AAA || AAA
 +
|-
 +
| 2011 || AA || AA+ || AA || AAA || AAA
 +
|-
 +
| 2010 || AA || AA || AA || AAA || AA+
 +
|-
 +
| 2009 || AA || AA || AA || AAA || AA+
 +
|-
 +
| 2008 || AA || AA || AA || AAA || AA+
 +
|-
 +
| 2007 || AA || AA || AA- || AAA || AA
 +
|-
 +
| 2006 || AA- || AA || AA- || AAA || AA
 +
|-
 +
| 2005 || AA- || AA || AA- || AAA || AA
 +
|-
 +
| 2004 || AA- || AA || AA- || AAA || AA
 +
|-
 +
| 2003 || AA- || AA || AA- || AAA || AA
 +
|-
 +
| 2002 || AA- || AA || AA- || AAA || AA
 +
|-
 +
| 2001 || AA || AA || AA- || AAA || AA
 +
|-
 +
|}
 +
 
 +
==Federal aid to state budget==
 +
::''See also: [[Federal aid to budgets in the 50 states]]''
 +
The chart below notes how much of the state’s general revenues come from the federal government. Figures were calculated by dividing each state’s federal intergovernmental revenue into its general revenue. The number in the rightmost column indicates the state's ranking in relation to the rest of the nation (e.g., if "1," the state receives the highest percentage of federal funding in the nation). Figures from neighboring states are included to provide additional context.<ref name=federalaid>[http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=COG_2012_FIN009&prodType=table ''United States Census Bureau'', "State Government Finances: 2012," accessed February 24, 2014]</ref>
 +
 
 +
State governments receive aid from the federal government to fund a variety of joint programs, such as Medicaid. Federal aid varies considerably from state to state. For example, [[Mississippi state budget#Federal aid to state budget|Mississippi]] received approximately $7.7 billion in federal aid in 2012, which accounted for more than 45 percent of the state's general revenues. By contrast, [[Alaska state budget#Federal aid to state budget|Alaska]] received roughly $2.9 billion in federal aid in 2012, just under 20 percent of the state's general revenues.<ref name=federalaid/>
  
General Fund Revenue Collections: FY 08-09 compared to FY 07-08<ref>[http://www.metrodenver.org/files/documents/news-center/legislation/2009EndSessionReport.pdf ''Tomlinson & Associates'', “2009 Colorado General Assembly Legislative Session Review,” June 6, 2009]</ref>
+
{| class="wikitable" style="text-align:center; width:50%;"
{| {{table}}
+
! colspan="4" align="center" style="background-color:#008000; color: white;" | Federal aid to state budgets in 2012
| align="center" style="background:#f0f0f0;"|
+
| align="center" style="background:#f0f0f0;"|FY 2008
+
| align="center" style="background:#f0f0f0;"|FY 2009
+
| align="center" style="background:#f0f0f0;"|Percent Change
+
 
|-
 
|-
| Individual Income||$4,974||$4,424||-11.1%
+
! valign="bottom" style="background-color:#444; color: white;" | State
 +
! valign="bottom" style="background-color:#444; color: white;" | Federal aid as % of general revenue
 +
! valign="bottom" style="background-color:#444; color: white;" | Total federal aid
 +
! valign="bottom" style="background-color:#444; color: white;" | National rank
 
|-
 
|-
| Corporate Income||507.9||350.9||-30.9%
+
| '''Colorado''' || '''28.85%''' || '''$6,310,538,000''' || '''35'''
 
|-
 
|-
| Excise/Sales Taxes||2,411||2,265||-6.0%
+
| [[Idaho state budget|Idaho]] || 34.90% || $2,479,094,000 || 16
 
|-
 
|-
| Other||258.1||246.4||-4.5%
+
| [[Montana state budget|Montana]] || 38.46% || $2,202,444,000 || 6
 
|-
 
|-
| '''Total'''||'''8,151'''||'''7,287'''||'''-10.5%'''
+
| [[Utah state budget|Utah]] || 31.61% || $4,481,494,000 || 31
 +
|-
 +
| [[Wyoming state budget|Wyoming]] || 36.00% || $2,213,249,000 || 13
 
|-
 
|-
|
 
 
|}
 
|}
''All figures are in millions and include revenues collected for State Education Fund, based on March 2009 forecast.''
+
 +
===Stimulus===
 +
Between February 2009 and June 2013, Colorado received $4,698,530,000.00 in federal funding.<ref>[http://www.recovery.gov/Pages/default.aspx ''Recovery.gov'', "Stimulus Spending by State," accessed February 21, 2014]</ref>
  
==Accounting principles==
+
==Budget transparency==
::''See also: [[Colorado government accounting principles]]''
+
{| class="wikitable" style="float:right; margin:1em 1em 1em 1em; text-align:center; width:15%;"
[http://www.leg.state.co.us/OSA/coauditor1.nsf/Home?openform Office of the State Auditor] reports to [http://www.leg.state.co.us/OSA/coauditor1.nsf/MemberPublic?openform The Legislative Audit Committee]. The Legislative Audit Committee (LAC) is a permanent standing committee comprised of four senators and four representatives with equal representation from the two major political parties. The Committee is responsible for reviewing and releasing audit reports and recommending special studies. The LAC also recommends an appointment for State Auditor to the leadership of the General Assembly every five years. Sally Symanski is Colorado’s state auditor. [http://www.leg.state.co.us/OSA/coauditor1.nsf/AboutOSA?openform Audit reports] are published online.<ref>[http://www.leg.state.co.us/OSA/coauditor1.nsf/Home?openform ''Office of the State Auditor Web site'', retrieved October 11, 2009]</ref> 
+
! colspan="2" align="center" style="background-color:#008000; color: white;" | Transparency evaluation
 +
|-
 +
! valign="bottom" style="background-color:#444; color: white;" |
 +
! valign="bottom" style="background-color:#444; color: white;" | Colorado transparency website
 +
|-
 +
|[[Criteria for evaluating databases|Searchability]] || {{partial}}
 +
|-
 +
|[[Criteria for evaluating databases|Grants]] || {{Yes (Sunshine Review)}}
 +
|-
 +
|[[Criteria for evaluating databases|Contracts]] || {{Yes (Sunshine Review)}}
 +
|-
 +
|[[Criteria for evaluating databases|Line item expenditures]] || {{Yes (Sunshine Review)}}
 +
|-
 +
|[[Criteria for evaluating databases|Dept./agency budgets]] || {{Yes (Sunshine Review)}}
 +
|-
 +
|[[Criteria for evaluating databases|Public employee salaries]] || {{partial}}
 +
|-
 +
|colspan="2"|<small>Last evaluated in 2012.</small>
 +
|}
 +
::''See also: [[Evaluation of Colorado state website]] and [[Constitutional provisions regarding reading of bills]]''
  
{| {{table}}
+
On June 4, 2009, [[Bill Ritter|Governor Bill Ritter]] signed Colorado House Bill 1288, the "Colorado Taxpayer Transparency Act," into law.  The law mandated the creation of an online spending database.<ref name=trap>[http://www.leg.state.co.us/Clics/CLICS2009A/csl.nsf/fsbillcont3/1FA3FA03152B42CC87257552006D7E3F?Open&file=1288_01.pdf ''State o Colorado'', "Colorado Taxpayer Transparency Act," accessed April 16, 2014]</ref>
| align="center" style="background:#f0f0f0;"|'''Credit Rating'''
+
 
| align="center" style="background:#f0f0f0;"|'''Fitch'''
+
===Government tools===
| align="center" style="background:#f0f0f0;"|'''Moody's'''
+
The table to the right is helpful in evaluating the level of transparency provided by a state spending and transparency database.
| align="center" style="background:#f0f0f0;"|'''S&P'''
+
 
 +
===Multi-measure budget transparency profile===
 +
The Institute of Government and Public Affairs at the University of Illinois created a multi-measure transparency profile for Colorado, which measured state transparency as of September 2011 using indicators from a range of organizations.  These indicators measured both website transparency and other recognized facets of governmental transparency.  In addition, IGPA presented four unique indicators of non-transparency based on the observation that transfers or reassignments between general and special funds can obscure the true fiscal condition of a state.<ref>[http://igpa.uillinois.edu/ ''Institute of Government and Public Affairs at University of Illinois'', "Home page," accessed February 21, 2014]</ref><ref name=allstates>[http://igpa.uillinois.edu/system/files/50_States_Transparency_Profiles.pdf ''Institute of Government and Public Affairs at University of Illinois'', "Budget Transparency Profiles - All 50 States," September 2011]</ref>
 +
 
 +
IGPA devised a budget transparency index based on information available from the National Association of State Budget Officers. Colorado tied for 33rd in the nation with 11 other states, earning four out of eight possible points.<ref name=allstates/>
 +
 
 +
{| class="wikitable" style="text-align:center; width:55%;"
 +
! colspan="2" align="center" style="background-color:#008000; color: white;" | Colorado - IGPA score for budget process, contents and disclosure
 
|-
 
|-
| Colorado<ref>[http://www.in.gov/ifa/files/StateCreditRatings.pdf "State of Indiana," “State Credit Ratings-as of June 24, 2009]</ref> ||NR||Aa3||AA
+
! valign="bottom" style="background-color:#444; color: white;" | Budget transparency indicator
 +
! valign="bottom" style="background-color:#444; color: white;" | Yes or no?
 +
|-
 +
| Performance measures || {{Yes}}
 +
|-
 +
| "Generally Accepted Accounting Principles" budget || {{no (Sunshine Review)}}
 +
|-
 +
| Multi-year forecasting || {{Yes}}
 +
|-
 +
| Annual cycle || {{Yes (Sunshine Review)}}
 +
|-
 +
| Binding revenue forecast || {{Yes}}
 +
|-
 +
| Legislative revenue forecast || {{Yes}}
 +
|-
 +
| Non-partisan staff || {{No (Sunshine Review)}}
 +
|-
 +
| Constitution or statutory tax/spend limitations || {{Yes (Sunshine Review)}}
 +
|-
 +
| '''TOTAL''' || '''4'''
 
|-
 
|-
|
 
 
|}
 
|}
 +
In addition to the individual state profile, IGPA offers a 50-state comparison and profiles for other states.<ref name=allstates/>
  
==Stimulus==
+
==Accounting principles==
Between February 2009 and June 2013, Colorado received $4,698,530,000.00 in federal funding.<ref>[http://www.recovery.gov/Pages/default.aspx ''Recovery'', "Stimulus Spending by State"]</ref>
+
::''See also: [[Colorado government accounting principles]]''
 +
[http://www.leg.state.co.us/OSA/coauditor1.nsf/Home?openform The Office of the State Auditor] reports to [http://www.leg.state.co.us/OSA/coauditor1.nsf/MemberPublic?openform The Legislative Audit Committee]. The Legislative Audit Committee (LAC) is a permanent standing committee comprised of four state senators and four state representatives, with equal representation from the two major political parties. The committee is responsible for reviewing and releasing audit reports and recommending special studies. The LAC also recommends an appointment for State Auditor to the leadership of the General Assembly every five years.<ref>[http://www.leg.state.co.us/OSA/coauditor1.nsf/Home?openform ''Office of the State Auditor'', "Home page," accessed October 11, 2009]</ref>
  
==Public Employees==
+
==Contact information==
::''See also: Colorado public employee salaries]]''
+
Governor's Office of State Planning and Budgeting<br>
::''See also: Colorado public pensions]]''
+
200 E. Colfax, Room 111<br>
According to 2008 Census data, the state of Colorado and local governments in the state employed a total of 320,650 people.<ref name=census>[http://www2.census.gov/govs/apes/08stlco.txt Colorado Public Employment Data]</ref> Of those employees, 227,729 were full-time employees receiving a net pay of $971,010,148 per month and 92,921 were part-time employees paid $113,456,631 per month.<ref name=census/> More than 56% of those employees, or 180,041 employees, were in education or higher education.<ref name=census/>
+
Denver, CO 80203<br>
 +
Telephone: (303) 866-3317<br>
 +
Fax: (303) 866-3044<br>
  
 
==See also==
 
==See also==
 
* [[Colorado government sector lobbying]]
 
* [[Colorado government sector lobbying]]
 
* [[Colorado public pensions]]
 
* [[Colorado public pensions]]
* [[Colorado state budget (2008-2009)]]
+
* [[Governor of Colorado]]
 +
* [[Colorado State Senate]]
 +
* [[Colorado House of Representatives]]
  
 
==External links==
 
==External links==
{{colbegin|2}}
+
*[http://tops.state.co.us/ Transparency Online Project]
*[http://tops.state.co.us/ Transparency Online Project Colorado]
+
 
* [http://www.statebudgetsolutions.org/state/detail/colorado State Budget Solutions, Colorado]
 
* [http://www.statebudgetsolutions.org/state/detail/colorado State Budget Solutions, Colorado]
*[http://www.usgovernmentspending.com/Colorado_state_spending.html Colorado state and local spending]
 
* [http://www.colorado.gov/cs/Satellite?c=Page&childpagename=GovRitter%2FGOVRLayout&cid=1251569925668&pagename=GOVRWrapper Gov. Ritter's 2010 State of the State Speech - video]
 
* [http://www.colorado.gov/cs/Satellite?c=Page&childpagename=GovRitter%2FGOVRLayout&cid=1251569957669&pagename=GOVRWrapper Gov. Ritter's 2010 State of the State Speech - text]
 
 
* [http://www.colorado.gov/cs/Satellite?c=Document_C&cid=1244045239750&pagename=OSPB%2FDocument_C%2FGOVRAddLink Colorado Budget Cycle Calendar]
 
* [http://www.colorado.gov/cs/Satellite?c=Document_C&cid=1244045239750&pagename=OSPB%2FDocument_C%2FGOVRAddLink Colorado Budget Cycle Calendar]
 
*[http://www.showmethespending.org/uploads/Taxpayer_Transparency_Act.pdf Model transparency legislation] from the [[American Legislative Exchange Council]].
 
*[http://www.showmethespending.org/uploads/Taxpayer_Transparency_Act.pdf Model transparency legislation] from the [[American Legislative Exchange Council]].
Line 155: Line 410:
 
*[http://www.state.co.us/gov_dir/govnr_dir/ospb/index.html Governor's Office of State Planning and Budgeting]
 
*[http://www.state.co.us/gov_dir/govnr_dir/ospb/index.html Governor's Office of State Planning and Budgeting]
 
*[http://www.colorado.gov/cs/Satellite/Treasury/TR/1190277266217 Colorado Department of the Treasury]
 
*[http://www.colorado.gov/cs/Satellite/Treasury/TR/1190277266217 Colorado Department of the Treasury]
*[http://uspolitics.einnews.com/news/colorado-government-spending Colorado Government spending]
 
*[http://www.coloarts.state.co.us/about/mission/index.htm Colorado Council on the Arts]
 
*[http://www.coloradowins.org Colorado WINS - State Employee Union]
 
{{colend (Sunshine Review)}}
 
  
==Additional reading==
+
===Additional reading===
{{colbegin|2}}
+
*[http://www.nytimes.com/2014/02/03/us/battles-loom-in-many-states-over-what-to-do-with-budget-surpluses.html?hp&_r=0 ''The New York Times'', "Battles loom in many states over what to do with budget surpluses," February 3, 2014]
* [http://www.coloradoan.com/article/20100124/BUSINESS/100122046/1046/Northern-Colorado-may-be-slow-to-see-economic-upswing ''Fort Collins Coloradoan'',"Northern Colorado may be slow to see economic upswing," January 24, 2010]
+
*[http://uspirg.org/reports/usp/following-money-2014 ''U.S. PIRG'', "Report: Transparent & Accountable Budgets," April 8, 2014]
* [http://online.wsj.com/article/BT-CO-20100121-713983.html?mod=WSJ_latestheadlines ''Wall Street Journal'',"Prison Operators Fall On Concerns About State Budget Cuts," January 21, 2010]
+
*[http://www.coloradoan.com/article/20100124/BUSINESS/100122046/1046/Northern-Colorado-may-be-slow-to-see-economic-upswing ''Fort Collins Coloradoan'', "Northern Colorado may be slow to see economic upswing," January 24, 2010]
* [http://www.bizjournals.com/denver/stories/2010/01/11/daily40.html ''Denver Business Journal'',"Budget, business top agenda as Colorado Legislature opens 2010 session," January 13, 2010]
+
*[http://online.wsj.com/article/BT-CO-20100121-713983.html?mod=WSJ_latestheadlines ''Wall Street Journal'', "Prison Operators Fall On Concerns About State Budget Cuts," January 21, 2010]
* [http://denver.bizjournals.com/denver/stories/2010/01/11/daily49.html ''Denver Business Journal'',"House GOP leader May’s opening-day speech to Colorado Legislature," January 13, 2010]
+
*[http://www.bizjournals.com/denver/stories/2010/01/11/daily40.html ''Denver Business Journal'', "Budget, business top agenda as Colorado Legislature opens 2010 session," January 13, 2010]
{{colend (Sunshine Review)}}
+
*[http://denver.bizjournals.com/denver/stories/2010/01/11/daily49.html ''Denver Business Journal'', "House GOP leader May’s opening-day speech to Colorado Legislature," January 13, 2010]
  
 
==References==
 
==References==
Line 172: Line 423:
  
 
{{State budgets}}
 
{{State budgets}}
 +
{{Colorado}}
  
 
[[category:Colorado]]
 
[[category:Colorado]]
 
[[Category:Budget information by state]]
 
[[Category:Budget information by state]]

Revision as of 18:12, 16 April 2014

Colorado state budget

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This page contains information about budget processes and policy issues in Colorado, including:
  • A summary of the budget drafting process
  • Trends in expenditures and revenues
  • Current and past fiscal year budget developments
  • Financial transparency measures

Between fiscal year 2009 and fiscal year 2013, Colorado's total expenditures XXincreased/decreasedXX by approximately $XXX billion, from $XXX billion in 2009 to $XXX billion in 2013. This represents an XXX percent increase, Xoutpacing/below/equivalent toX the cumulative rate of inflation during the same period (9.06 percent, calculated using the Consumer Price Indices for January 2009 and January 2013).[1][2]

Budget process

The state operates on an annual budget cycle. The sequence of key events in the budget process is as follows:[3][4]

  1. Budget instructions are sent to state agencies in April.
  2. Agencies submit their budget requests to the governor in August.
  3. Agency hearings are held in August and September.
  4. The governor submits his or her proposed budget to the state legislature in November.
  5. The legislature typically adopts a budget in May for the new fiscal year beginning July 1.

Colorado is one of 44 states in which the governor has line item veto authority.[4]

The governor is legally required to submit a balanced budget to the legislature, which must in turn adopt a balanced budget.[4]

Expenditures

Definitions

Although each state executes its budget process differently, the National Association of State Budget Officers (NASBO) breaks down state expenditures into four general categories. This allows for comparisons among the 50 states. NASBO's categories are as follows:[5]

  • General fund: "The predominant fund for financing a state’s operations. Revenues are received from broad-based state taxes. However, there are differences in how specific functions are financed from state to state."[5]
  • Other funds: "Expenditures from revenue sources that are restricted by law for particular governmental functions or activities. For example, a gasoline tax dedicated to a highway trust fund would appear in the “Other funds” column. For Medicaid, other state funds include provider taxes, fees, donations, assessments, and local funds."[5]
  • Federal funds: "Funds received directly from the federal government."[5]
  • Bonds: "Expenditures from the sale of bonds, generally for capital projects."[5]

2013 expenditures

Breakdown of expenditures in FY 2013.
Source: National Association of State Budget Officers

The table below breaks down expenditures for fiscal year 2013 (comparable figures from surrounding states are provided to give additional context).[5] Figures for all columns except "Per capita expenditures" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita expenditures" have not been abbreviated.

Total state expenditures, FY 2013 ($ in millions)[5]
State General fund Federal funds Other funds Bonds Total Per capita expenditures
Colorado $7,942 $7,334 $13,203 $0 $28,479 $5,405.66
Idaho $2,699 $2,792 $1,718 $33 $7,242 $4,492.18
Montana $1,947 $2,115 $1,978 $0 $6,040 $5,949.77
Utah $4,990 $3,405 $3,739 $469 $12,603 $4,344.56
Wyoming $3,709 $2,353 $2,549 $0 $8,611 $14,778.82
Per capita figures are calculated by taking the state's total expenditures and dividing by the number of state residents according to United States Census estimates.[6][7]
Source: National Association of State Budget Officers

Expenditures by function

Breakdown of expenditures by function in FY 2012.
Source: National Association of State Budget Officers

State expenditures in Colorado can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2012 data is included in the table below (information from neighboring states is provided for additional context). Figures are rendered as percents, indicating the share of the total budget spent per category.

Expenditures by function, FY 2012 (as percents)[5]
State Elementary and secondary ed. Higher ed. Public assistance Medicaid Corrections Transportation Other
Colorado 25.3% 9.0% 0.0% 20.7% 2.7% 5.4% 36.9%
Idaho 25.7% 8.1% 0.3% 27.2% 3.7% 10.9% 24.2%
Montana 15.5% 9.8% 0.5% 16.8% 3.1% 12.7% 41.5%
Utah 24.7% 11.9% 0.9% 17.5% 2.0% 9.2% 33.9%
Wyoming 3.9% 5.5% 0.0% 9.5% 4.6% 9.5% 66.9%
Source: National Association of State Budget Officers

Expenditure trends

From 2008 to 2012, elementary and secondary education spending fell by more than five percent. Similarly, higher education spending also fell by roughly five percent. Meanwhile, Medicaid spending rose by 9.6 percent during the same period. The table below details changes in expenditures from 2008 to 2012.[5][8][9][10][11] Figures are rendered as percents, indicating the share of the total budget spent per category.

Expenditures from 2008 to 2012 (as percents)
Year Elementary and secondary ed. Higher ed. Public assistance Medicaid Corrections Transportation Other
2012 25.3% 9.0% 0.0% 20.7% 2.7% 5.4% 36.9%
2011 23.9% 13.6% 0.0% 17.8% 2.4% 4.7% 37.5%
2010 24.7% 14.2% 0.0% 15.3% 2.6% 4.6% 38.6%
2009 25.7% 14.9% 0.0% 14.1% 3.0% 5.9% 36.5%
2008 31.0% 13.9% 0.1% 11.1% 3.0% 6.6% 34.2%
Change in % -5.7% -4.9% -0.1% 9.6% -0.3% -1.2% 2.7%
Source: National Association of State Budget Officers

Revenues

2013 revenues

Breakdown of general fund revenue sources in FY 2013.
Source: National Association of State Budget Officers

The table below breaks down general fund revenues by source in fiscal year 2013 (comparable figures from surrounding states are also provided to give additional context).[5] Figures for all columns except "Per capita revenue" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita revenue" have not been abbreviated.

Revenue sources in the general fund, FY 2013 ($ in millions)[5]
State Sales tax Personal income tax Corporate income tax Gaming tax Other taxes and fees Total Per capita revenue**
Colorado $2,186 $5,642 $640 $13 $111 $8,592 $1,630.87
Idaho $1,152 $1,313 $194 $0 $140 $2,799 $1,736.21
Montana $62 $1,048 $177 $57 $734 $2,078 $2,046.96
Utah $1,633 $2,652 $313 $0 $495 $5,093 $1,755.68
Wyoming $499 $0 $0 $0 $549 $1,048 $1,798.65
Per capita figures are calculated by taking the state's total revenues and dividing by the number of state residents according to United States Census estimates for 2013.[6]
Source: National Association of State Budget Officers

Revenue trends

The table below details the change in revenue sources in the general fund from 2009 to 2013.[5][8] Figures for all columns except "Per capita revenue" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita revenue" have not been abbreviated.

Revenue sources in the general fund, Colorado ($ in millions)[5][8]
Year Sales tax Personal income tax Corporate income tax Gaming tax Other taxes and fees Total Per capita revenue**
2013 $2,186 $5,642 $640 $13 $111 $8,592 $1,630.87
2012 $2,388 $5,012 $487 $20 -$170 $7,736 $1,490.71
2011 $2,234 $4,496 $394 $20 -$58 $7,086 $1,384.42
2010 $1,981 $4,084 $372 $16 $334 $6,787 $1,344.44
2009 $2,108 $4,333 $292 $3 $346 $7,083 $1,409.62
Change in % 3.70% 30.21% 119.18% 333.33% -67.92% 21.30% 15.70%
Per capita figures are calculated by taking the state's total revenues and dividing by the number of state residents according to United States Census estimates.[6][7]
Source: National Association of State Budget Officers

State budgets by year

Fiscal year 2014

Colorado state budget -- 2014
Colorado State Legislature
Text:SB13-230
Legislative history
Introduced:March 25, 2013
House:April 5, 2013
Vote (lower house):45-18-2
Senate:March 28, 2013
Vote (upper house):19-15-1
Conference:April 12, 2013
Governor:John Hickenlooper
Signed:April 29, 2013

On April 29, 2013, Governor John Hickenlooper signed the fiscal year 2014 state budget into law. The budget included a two percent pay raise for state employees effective July 1, 2013 and added approximately $13.3 million in total funds for the state's child welfare system. Some Republican legislators criticized the budget for excessive spending, citing what they characterized as a slow recovery from the national recession. Meanwhile, Democratic Representative and Joint Budget Committee Vice-chairwoman Claire Levy argued that Colorado's economic position was strong enough that programs did not need to be cut.[12]

No Republican Senators voted for the bill, and only nine Representatives voted for it.[12]

Fiscal year 2013

See also: Colorado state budget (2012-2013)

Fiscal year 2012

See also: Colorado state budget (2011-2012)

Fiscal year 2011

See also: Colorado state budget (2010-2011)

Fiscal year 2010

See also: Colorado state budget (2009-2010)

Historical spending

State budget historical spending below was compiled by the National Association for State Budget Officers. Figures reflect the reported "Total Expenditures" in Table 1. Figures for all columns are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000).[5][9]

Historical state budget spending in Colorado ($ in millions)
Fiscal year General Fund Other funds Federal funds Bonds Budget totals
Total % of Budget Total % of Budget Total % of Budget Total % of Budget
2011-2012 $7,311 25.4% $13,775 47.9% $7,691 26.7% $0 0% $28,777
2010-2011 $7,278 23.5% $14,746 47.7% $8,893 28.8% $0 0% $30,917
2009-2010 $7,326 23.6% $14,515 46.7% $9,223 29.7% $0 0% $31,064
Averages: $7,305 24% $14,345.33 47% $8,602.33 28% $0 0% $30,252.67
General Fund: The predominant fund for financing a state’s operations. Revenues are received from broad-based state taxes. However, there are differences in how specific functions are financed from state to state.
Other funds: Expenditures from revenue sources that are restricted by law for particular governmental functions or activities. For example, a gasoline tax dedicated to a highway trust fund would appear in the “Other funds” column. For Medicaid, other state funds include provider taxes, fees, donations, assessments, and local funds.
Federal funds: Funds received directly from the federal government.
Bonds: Expenditures from the sale of bonds, generally for capital projects.

State debt

According to a January 2014 report by the nonprofit organization State Budget Solutions, Colorado had a state debt of over $86 billion. Its state debt per capita was $16,748. The report revealed that state governments faced a combined $5.1 trillion in debt, 33 percent of annual gross state product. The obligation amounts to $16,178 per capita in the nation. A bulk of the state debt -- 79 percent -- was linked to unfunded public pensions.[13][14]

Total state debt in Colorado[15]
Type Totals U.S. rank
Total state debt $86,879,414,000 17
Per capita debt $16,748 19
State and other fund expenditures $21,086,000,000 25

Public pensions

See also: Colorado public pensions and Colorado public employee salaries

A 2012 report from the Pew Center on the States noted that Colorado's pension system was funded at 66 percent at the close of fiscal year 2010, well below the 80 percent funding level experts recommend. Consequently, Pew designated the state's pension system as cause for "serious concern."[16]

Taken together, the funding ratio for the state's pension systems decreased from 75.99 percent in fiscal year 2007 to 64.22 percent in fiscal year 2012, an 11.77 percent drop. Likewise, unfunded liabilities increased from just under $13 billion in fiscal year 2007 to nearly $22.8 billion in fiscal year 2012.[17][18]

Credit ratings

States sometimes sell general obligation bonds to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). Credit rating agencies, such as Standard and Poor's, assign grades to states, evaluating their ability to pay the principal and interest on such bonds. Standard and Poor's grades range from AAA, the highest available, to BBB, the lowest. Generally speaking, a higher credit ranking indicates lower risk for an investor, which in turn lowers costs for taxpayers.[19]

The table below lists the Standard and Poor's credit ranking for Colorado from 2001 to 2012 (grades from surrounding states are provided for additional context).[19]

S&P credit ratings from 2001 to 2012
Colorado Idaho Montana Utah Wyoming
2012 AA AA+ AA AAA AAA
2011 AA AA+ AA AAA AAA
2010 AA AA AA AAA AA+
2009 AA AA AA AAA AA+
2008 AA AA AA AAA AA+
2007 AA AA AA- AAA AA
2006 AA- AA AA- AAA AA
2005 AA- AA AA- AAA AA
2004 AA- AA AA- AAA AA
2003 AA- AA AA- AAA AA
2002 AA- AA AA- AAA AA
2001 AA AA AA- AAA AA

Federal aid to state budget

See also: Federal aid to budgets in the 50 states

The chart below notes how much of the state’s general revenues come from the federal government. Figures were calculated by dividing each state’s federal intergovernmental revenue into its general revenue. The number in the rightmost column indicates the state's ranking in relation to the rest of the nation (e.g., if "1," the state receives the highest percentage of federal funding in the nation). Figures from neighboring states are included to provide additional context.[20]

State governments receive aid from the federal government to fund a variety of joint programs, such as Medicaid. Federal aid varies considerably from state to state. For example, Mississippi received approximately $7.7 billion in federal aid in 2012, which accounted for more than 45 percent of the state's general revenues. By contrast, Alaska received roughly $2.9 billion in federal aid in 2012, just under 20 percent of the state's general revenues.[20]

Federal aid to state budgets in 2012
State Federal aid as % of general revenue Total federal aid National rank
Colorado 28.85% $6,310,538,000 35
Idaho 34.90% $2,479,094,000 16
Montana 38.46% $2,202,444,000 6
Utah 31.61% $4,481,494,000 31
Wyoming 36.00% $2,213,249,000 13

Stimulus

Between February 2009 and June 2013, Colorado received $4,698,530,000.00 in federal funding.[21]

Budget transparency

Transparency evaluation
Colorado transparency website
Searchability P
Partial.png
Grants Y
600px-Yes check.png
Contracts Y
600px-Yes check.png
Line item expenditures Y
600px-Yes check.png
Dept./agency budgets Y
600px-Yes check.png
Public employee salaries P
Partial.png
Last evaluated in 2012.
See also: Evaluation of Colorado state website and Constitutional provisions regarding reading of bills

On June 4, 2009, Governor Bill Ritter signed Colorado House Bill 1288, the "Colorado Taxpayer Transparency Act," into law. The law mandated the creation of an online spending database.[22]

Government tools

The table to the right is helpful in evaluating the level of transparency provided by a state spending and transparency database.

Multi-measure budget transparency profile

The Institute of Government and Public Affairs at the University of Illinois created a multi-measure transparency profile for Colorado, which measured state transparency as of September 2011 using indicators from a range of organizations. These indicators measured both website transparency and other recognized facets of governmental transparency. In addition, IGPA presented four unique indicators of non-transparency based on the observation that transfers or reassignments between general and special funds can obscure the true fiscal condition of a state.[23][24]

IGPA devised a budget transparency index based on information available from the National Association of State Budget Officers. Colorado tied for 33rd in the nation with 11 other states, earning four out of eight possible points.[24]

Colorado - IGPA score for budget process, contents and disclosure
Budget transparency indicator Yes or no?
Performance measures
{{{1}}}
"Generally Accepted Accounting Principles" budget N
600px-Red x.png
Multi-year forecasting
{{{1}}}
Annual cycle Y
600px-Yes check.png
Binding revenue forecast
{{{1}}}
Legislative revenue forecast
{{{1}}}
Non-partisan staff N
600px-Red x.png
Constitution or statutory tax/spend limitations Y
600px-Yes check.png
TOTAL 4

In addition to the individual state profile, IGPA offers a 50-state comparison and profiles for other states.[24]

Accounting principles

See also: Colorado government accounting principles

The Office of the State Auditor reports to The Legislative Audit Committee. The Legislative Audit Committee (LAC) is a permanent standing committee comprised of four state senators and four state representatives, with equal representation from the two major political parties. The committee is responsible for reviewing and releasing audit reports and recommending special studies. The LAC also recommends an appointment for State Auditor to the leadership of the General Assembly every five years.[25]

Contact information

Governor's Office of State Planning and Budgeting
200 E. Colfax, Room 111
Denver, CO 80203
Telephone: (303) 866-3317
Fax: (303) 866-3044

See also

External links

Additional reading

References

  1. Bureau of Labor Statistics, "CPI Detailed Report Data for February 2014," accessed April 9, 2014
  2. InflationData.com, "Cumulative Inflation Calculator," February 28, 2014
  3. National Conference of State Legislatures "State Experiences with Annual and Biennial Budgeting," updated April 2011
  4. 4.0 4.1 4.2 National Association of State Budget Officers "Budget Processes in the States, Summer 2008," accessed February 21, 2014
  5. 5.00 5.01 5.02 5.03 5.04 5.05 5.06 5.07 5.08 5.09 5.10 5.11 5.12 5.13 National Association of State Budget Officers "State Expenditure Report, 2011-2013," accessed February 21, 2014
  6. 6.0 6.1 6.2 United States Census Bureau, "Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2013," accessed February 26, 2014
  7. 7.0 7.1 United States Census Bureau, "Vintage 2009: Annual Population Estimates," accessed February 26, 2014
  8. 8.0 8.1 8.2 National Association of State Budget Officers, "State Expenditure Report, 2009-2011," accessed February 24, 2014
  9. 9.0 9.1 National Association of State Budget Officers, "State Expenditures Report, 2010-2012," accessed February 24, 2014
  10. National Association of State Budget Officers, "State Expenditure Report, 2009," accessed February 24, 2014
  11. National Association of State Budget Officers, "State Expenditure Report, 2008," accessed February 24, 2014
  12. 12.0 12.1 The Denver Post, "Colorado Gov. Hickenlooper signs 2014 budget into law," April 29, 2014
  13. State Budget Solutions, "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014
  14. Washington Examiner, "EXography: Unfunded public employee pensions drive state debts skyward," January 21, 2014
  15. State Budget Solutions "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014
  16. Pew Center on the States "Widening Gap Update: Colorado," June 18, 2012
  17. Public Employees' Retirement Association of Colorado "2012 Comprehensive Annual Financial Report," accessed October 31, 2013
  18. Fire and Police Pension Association of Colorado "2012 Comprehensive Annual Financial Report," accessed October 31, 2013
  19. 19.0 19.1 Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2012," July 13, 2012
  20. 20.0 20.1 United States Census Bureau, "State Government Finances: 2012," accessed February 24, 2014
  21. Recovery.gov, "Stimulus Spending by State," accessed February 21, 2014
  22. State o Colorado, "Colorado Taxpayer Transparency Act," accessed April 16, 2014
  23. Institute of Government and Public Affairs at University of Illinois, "Home page," accessed February 21, 2014
  24. 24.0 24.1 24.2 Institute of Government and Public Affairs at University of Illinois, "Budget Transparency Profiles - All 50 States," September 2011
  25. Office of the State Auditor, "Home page," accessed October 11, 2009