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Colorado state budget (2011-2012)
| Note: This article was last updated in 2012. Click here for more recent information on state budgets and finances. |
Governor John Hickenlooper signed the $18 billion long-form fiscal year 2012 budget on May 6, 2011. The General Fund for fiscal year 2012, contained in SB11-209, including appropriations by individual agencies, can be accessed here. The legislature passed other, related bills to balance the budget, which Colorado's Constitution requires.[1] The general fund totaled approximately $7 billion.[2]
Cuts
The budget reduced state aid to K-12 schools by $250 million and higher education funding by $36 million.[1] It also made cuts to state agencies across the board, and transferred drilling and mining taxes from local governments. The budget merged two parts of the Department of Natural Resources - the Division of Wildlife and Colorado State Parks. It also called for the closure of a state prison.[3]
Hickenlooper signed SB 230 on June 9, 2011, which cut state education funding by an additional $225 million.[4]
Taxes
The fiscal year 2012 budget repealed two taxes: sales taxes on online software sales, and sales taxes on agricultural products, such as fertilizers and animal medicine. It also retained a retailer sales tax rebate.[3] The budget enacted an "Amazon" tax to make out-of-state internet sellers help collect use tax from Colorado residents.[5]
Education
For fiscal year 2012, Colorado devoted 28.9 percent of its total spending to K-12 education, up from 27.9 percent in fiscal year 2009.[6]
| Fiscal year | Total spending[7] | Education spending[8] | Percent education spending |
|---|---|---|---|
| 2009 | $44.5 billion | $12.9 billion | 28.9% |
| 2010 | $46.4 billion | $12.1 billion | 26.0% |
| 2011 | $46.1 billion | $12.2 billion | 26.4% |
| 2012 | $46.1 billion | $12.9 billion | 27.9% |
The Denver Post, however, reported that K-12 school funding accounted for more than 40 percent of the state's general fund.[9] The budget as originally passed included cuts to education, but in December 2011, Gov. Hickenlooper said he was hopeful that higher than anticipated revenue projections meant that $89 million in funding could be restored to K-12 education.[2]
Legislative proposed budget
The Joint Budget Committee agreed to a budget compromise on April 5, 2011. The $7 billion budget called for $250 million in cuts to K-12 education, nearly $100 million less than the governor had proposed, and it also restored two tax exemptions that had been suspended the previous year. It also reduced the state’s proposed collection of vendor fees by two-thirds and ended collection outright after three years, reducing the state's estimated revenue for each of the next three years to $20 million, down from the $60 million it would have raised each year under the governor’s proposal.[10]
Governor's proposed budget
Then-Governor Ritter presented his proposed budget to the state legislature's Joint Budget Committee on November 2, 2010.[11] Months later, Gov. Hickenlooper took office and proposed his own state budget on February 15, 2011.[12]
Gov. Hickenlooper's budget cut an additional $570 million on top of the plan from Gov. Bill Ritter in November 2010.[12] Ritter's proposed fiscal year 2012 state budget included $7.6 billion in general fund dollars, $6.3 billion in cash funds and another $5.1 billion in federal funds.[13] It was almost $1 billion more than the fiscal year 2011 state budget.[11] The budget covered a projected $715 million revenue deficit.[14]
Footnotes
- ↑ 1.0 1.1 Denver Business Journal, "Hickenlooper signs budget bill into law," May 6, 2011
- ↑ 2.0 2.1 The Denver Post, "Colorado's improving budget forecast spreads holiday cheer," December 21, 2011
- ↑ 3.0 3.1 Forbes, "Colorado gov signs $18 billion budget into law," May 6, 2011 (dead link)
- ↑ The Durango Herald, "Governor signs off on school cuts," June 9, 2011
- ↑ Estes Park Trail, "Denver finished with lawmaking," May 12, 2011
- ↑ State Budget Solutions, "Throwing Money At Education Isn't Working," September 12, 2012
- ↑ USGovernmentSpending.com, "Colorado Government Spending Chart - Total Spending," August 4, 2012
- ↑ USGovernmentSpending.com, "Colorado Government Spending Chart - Education Spending," August 4, 2012
- ↑ The Denver Post, "Study says Colorado budget outlook worse than thought and cutting alone won't fix it," September 1, 2011
- ↑ The Pueblo Chieftain, "Accord reached on state budget," April 5, 2011
- ↑ 11.0 11.1 The Denver Post, "Ritter unveils $19.1 billion budget for Colorado in 2011-12," November 3, 2010
- ↑ 12.0 12.1 The Denver Post, "Hickenlooper's state budget hits education, parks and prisons," February 15, 2011
- ↑ The Colorado Statesman, "State budget feeling the pinch with end of federal dollars," November 10, 2010
- ↑ Businessweek, "Colorado smokers, parks take proposed budget hit," November 2, 2010
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