Gov. “It’s going to be a while.”. Those employees could soon face furloughs or layoffs. The coming year’s revenue forecast is even worse. By viewing our video content, you are accepting the terms of our. So now, at the onset of a recession, the people running state government are weighing how to keep Colorado afloat. The committee’s chair, Rep. Daneya Esgar, D-Pueblo, said weighing cuts to services for adults with severe disabilities “broke all of our hearts.” Also difficult were discussions on cutting Colorado’s tourism marketing budget and nixing a plan to give state employees pay raises. 2 . The fund will run dry by next month, forcing the state to borrow money and businesses to pay a surcharge. Colorado’s Joint Budget Committee slashed $493 million from next year’s higher education budget, a massive 58% cut from this year’s funding levels by lawmakers trying to fill the state… “I think people can expect more four-day school weeks, more crumbling infrastructure. Jared Polis slashed immediate government spending by $228.7 million in response to precipitous shortfalls in the state's budget, as well banned evictions statewide. You want to talk cutting meat and bone? ©2021 CBS Broadcasting Inc. All Rights Reserved. The numbers in the forecast only account for the loss in revenue, not increased expenditures due to increased needs. And, for now, the state does not expect to be able to plug that hole with federal stimulus money. The public will find out just how big the immediate problem is Tuesday, as state analysts release an updated economic forecast for the 2020-21 fiscal year. The ballot proposal was unveiled the day before Polis announced the state’s first known cases of COVID-19. Colorado budget facing massive cuts — and next year likely to be worse State could be short $3 billion — roughly 10% of the state budget overall, and … State budget committee reviewing cuts after Polis slashes $228.7 million from state budget. The state could be short $3 billion — roughly 10% of the state budget overall, and closer to 25% of the budget’s general fund, which covers core services. ... talk about even more painful cuts. No furloughs or layoffs for state employees are planned for this fiscal year. Lawmakers say budget cuts could top $4 billion or more. Take K-12 education, for one. “We’re working on it,” Becker said. The state Senate late Friday night adopted changes made to the 2020-21 state budget as contained in House Bill 1360 and readopted it on a 24-11 vote. “We are in for some disruptions, but the question is how deep will those reductions be,” S… Senator Bob Rankin says much depends on the ability of the state to fully reopen and stay open. “That could be huge — over $150 million in new shift of cost,” she added. Leaders do not believe they have the authority to use those billions on plugging leaks in the state budget. DENVER (CBS4) – In just two months, the COVID19 crisis has caused the state’s general fund budget to go from a $27 million surplus to an $893 million deficit. “Recall,” said Carol Hedges, executive director of the Colorado Fiscal Institute, that in the last recession, “the worst budget year was not 2008. As required by State statute, the major features in the budget are listed in this Budget Message. The Colorado House, on a 41-23 party-line vote, approved the 2020-21 state budget and sent it on to its next stop, the state Senate. But none of them have TABOR. That revenue has plummeted with businesses closed and 15 percent of the state’s workforce out of work. Alex Burness covers politics for The Denver Post after previous work for The Boulder Daily Camera, Colorado Independent and Loveland Reporter-Herald. So far in 2020, only about 661 jury trials in criminal cases have been held, according to the Office of the State Court Administrator. “But we don’t feel like it’s an option to stop,” said Scott Wasserman, president of the Bell Policy Center, which backs the measure. That barrier has meant that state government spending here has, in many ways, not kept pace with the state’s phenomenal growth; Colorado’s 47th in per-student education funding, for one, and has billions in unfunded transportation plans. While the HCA was asked to submit proposals to cut 15% out of its budget in September 2020, the regular session for lawmakers will not begin until January 2021, and cuts would not be anticipated to take place until January 2022, according to the HCA proposals. The cuts, which amount to roughly 15% less than what the state expected to spend on education just a few months ago, are no surprise at this stage of a painful budget process. The COVID-19 pandemic has resulted in a fiscal crisis for the State of Colorado. But that's not much of an issue for now, according to Joint Budget Committee Chair Rep. Daneya Esgar, a Pueblo Democrat. K-12 education accounts for 36 percent of the budget and higher education accounts for another 9 percent. If in fact Colorado does not receive flexible federal dollars, it’ll mean even tougher decisions in key areas. Among the stipulations written into TABOR’s section on emergency taxation: A two-thirds majority of a state or local body must support an emergency tax for it to pass. The school finance bill calls for across-the-board cuts to … Democrats may well be able to find two-thirds support in the House, but they have a much narrower majority in the Senate, and it appears unlikely, at the moment, that many Republicans would entertain the idea. A clearer picture is starting to emerge of the deep budget cuts Colorado … Tears have been shed on multiple occasions. Colorado schools face budget cuts that rival those of the Great Recession under the Public School Finance Act unveiled this week. Medicaid can’t be cut without losing a higher federal match, so that leaves things like child welfare, food assistance, and services for the elderly. 2021-2022 Budget Basics • State Budget: $35.4B Total Funds, $13.6B General Funds • State Totals Cuts: $422M Total Funds and $272M General Fund • HCPF Total Cuts $165M Total Funds and $146M General Funds • HCPF will account for 37.6% of TF and 29% GF (is 34%, 26%) • HCPF budget will be $12.4B TF and 3.5B GF Jared Polis makes a point during a news conference to update the state's efforts to check the spread of the new coronavirus Monday, May 11, 2020, in Denver. K-12 education accounts for 36 percent of the budget … It’s possible there is common ground to be found on cutting certain tax breaks the state doles out. Saliman shared that campus budget scenario planning includes planning for three different scenarios: a 5%, 10% and 20% reduction to system and campus operating budgets. Ranked-choice voting: Coming soon to more of Colorado’s towns and cities? “It’s a conversation that needs to happen,” said Hedges, of the Colorado Fiscal Institute. the budget also eliminated a $225 million payment into … Colorado budget facing massive cuts — and next year likely to be worse. Colorado Gov. Hart Van Denburg/CPR News The Colorado state Capitol, Monday, April 27, 2020. So far in 2020, only about 661 jury trials in criminal cases have been held, according to the Office of the State Court Administrator. Gov. Other significant factors that will impact CU’s financial outlook include when students are able to return to campus, the degree to which the student experience requires modification and state funding levels. Putting a burden on those job creators, on those workers — that, I think, would be a mistake.”. Ditto for transportation, which receives major funding from the gas tax, plus a slew of fees — on car rentals and registrations, for example — that are also primed to produce much less money at least for awhile. “These are services that are needed more than ever, that people are depending on, and the reality is that the state may have to dial some of those back in light of the numbers that we received today,” said Moreno. How Proposed State Budget Cuts Could Impact Health Access in Rural Colorado . The University of Colorado Boulder receives roughly 5% of its budget from the state, but Adams State University in Alamosa gets 40% from the state. Receive the same money in 2020-21 as it did in 2019-20; ... $100,000 for Colorado State Patrol; Facing an unprecedented revenue loss and the constitutional requirement for a balanced budget, the legislature had to cut $3.3 billion from the state budget. Colorado’s water projects won’t see money from sports betting taxes immediately, The public’s guide to the Colorado state budgeting process, and how to get involved, Colorado lawmakers plan a major push on climate change to strengthen Polis’ roadmap, Three Colorado health care workers who moonlight as lawmakers say pandemic showed “why we’re doing this”, Amazon wants to open a delivery warehouse in Arvada but some neighbors think it’s a bad fit, Biden taking “creative steps” to push for $1.9 trillion aid plan. But that spending is complemented by significant local dollars, which account for about a third of overall K-12 spending in the state. The coming year’s revenue forecast is even worse. 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