When Gov. John Hickenlooper announced the TBD Colorado effort last year, he said he wanted Coloradans to "share their vision and priorities for our state."
Thousands of residents – including many of you – did just that by attending meetings across the state to identify important issues facing our state. The governor's goal was to spur conversation and gather opinions, and Coloradans delivered.
Today, we take the next step in the process. TBD Colorado wants to get your thoughts and opinions on education and transportation.
Economists gave state lawmakers good news about Colorado's economy and state revenues in their quarterly forecasts to the Joint Budget Committee today.
Colorado's economy is growing at a steady pace and is outperforming the U.S. economy. In fact, it was growing faster during the summer months than previously thought. The data used for the September forecast has been revised upward, showing stronger growth in jobs and income, according to Natalie Mullis, the Legislative Council Staff's chief economist.
Gov. John Hickenlooper presented his budget for 2012-13 today, and there was some good news, largely because of the slowly improving economy.
"Because of the hard work we did together in 2011 and 2012, the State's financial position is markedly improved," the governor said in a letter to the Joint Budget Committee. "Our plan reflects cautious optimism for Colorado's economy and a prudent, sustainable approach to managing the state's budget."
Gov. John Hickenlooper joined with legislative leaders and members of the Joint Budget Committee on Monday, May 7, to sign the state budget for fiscal year 2012-13, praising lawmakers for having passed a budget with more support than it has received in 17 years.
Lawmakers received good news on the economic and budget fronts this morning.
State economists now estimate that the Colorado economy will continue to grow, albeit slowly, and generate enough revenue to maintain a balanced General Fund budget this year and next. This is a change from recent years, when the legislature and governor faced declining revenues and the need to make budget cuts.
State revenues are expected to be $116 million higher this fiscal year than projected in December, according to legislative economists. When coupled with cuts and actions already taken by the legislature to balance the budget this session, the state is projected to end the current fiscal year with a $447 million surplus. By law, these funds will be transferred to the State Education Fund.
Legislative economists expect revenues to be $99 million higher in fiscal year 2011-12, which will help to reduce the projected shortfall.
Gov. Bill Ritter presented his plan to balance the fiscal year 2009-10 budget today before a packed house at a meeting of the Joint Budget Committee. The overall plan totals $320 million and includes $261.2 million in cuts to the General Fund, $39.8 million in transfers from cash funds and $19 million in other revenues and reserve changes.
Commentary in Post says declining revenues will harm Colorado
On Sunday, The Denver Post published a commentary by Wade Buchanan, Chris Watney of the Colorado Children's Campaign and Carol Hedges of the Colorado Fiscal Policy Institute. We wanted to share it, in case you missed it.