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February 23, 2009 - 09:36 am
News Feed: Colorado
Colorado's budget woes linger
Denver PostColorado's economy is still bad, and the state's budget — which faces a $1 billion shortfall over the next 16 months — won't be much better off even two years from now.
That was the grim assessment lawmakers heard Monday as they were briefed on the budget in an unusual joint House and Senate session. The purpose was to help all lawmakers understand how the six-member Joint Budget Committee crafted a plan to balance the budget in the current fiscal year, which ends in June.
The plan relies on transferring $230.9 million from cash funds, spending down $148.6 million in reserves and cutting a variety of programs.
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