Colorado is beginning to recover from the Great Recession.
Revenue estimates released today by the Legislative Council staff show that General Fund revenue for the current fiscal year is projected to come in about $230 million higher than estimated in December. Partly due to the increased revenue and the budget actions already taken by the legislature and governor, the General Fund is in balance for the current fiscal year.
State revenues will fall about $250 million short of appropriations for the fiscal year that ends next week, according testimony today by state economists before the Joint Budget Committee. Estimates from the economists are worse than their projections in March and show that the state's economy was weaker than anticipated in the second quarter.