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Economic Outlook Mountain States Employers Council, June 29, 2016

Colorado State Budgeting Process (FY 2016-17)

The FY 2013-14 General Fund surplus is estimated at $235.8 million.1 State law requires this surplus to be distributed in the amounts and order shown in Table 1.2 Additionally, the transfer to the Capital Construction Fund is allocated by state law in the order and amounts shown in Table 2.3 Up to 90 percent of the surplus will be distributed on September 15th, with the remainder distributed when the State Controller publishes the comprehensive annual financial report for FY 2013-14.

New construction and substantial renovation of academic buildings and facilities constructed or maintained with state General Fund moneys (hereafter referred to as "state facilities") are required to comply with the High Performance Certification Program (HPCP). The program requires the application of energy efficiency standards and sustainable building practices to achieve operational cost savings and a decreased environmental impact. This issue brief outlines details of the HPCP.

In 1992, voters approved an amendment to the Colorado Constitution — Article X, Section 20 — known as the Taxpayer's Bill of Rights (TABOR). TABOR limits annual growth in state spending.

State Highway Fund (SHF), the primary operating fund used by the Colorado Department of Transportation (CDOT) to manage state transportation projects. The SHF receives revenue from the HighwayUsers Tax Fund (HUTF), various other revenue and fees, federal funds, and the General Fund. Each of these revenue sources is discussed below.

Focus Colorado presents forecasts for the economy and state government revenue through FY 2015-16. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

New Legislator Orientation Phase II: FY 2016-17 State Operating Budget Overview