With the perilous economic situation brought on by the COVID-19 pandemic, the State of Colorado’s budget is facing a multi-billion dollar shortfall. Economists from the Colorado Legislative Council and from the Governor’s Office of State Planning and Budgeting (OSPB) have both released new budget forecasts this May, which normally aren’t issued until June. Up-to-date information on the budget process can be found on the agencies’ websites:
- OSPB forecasts, including the most recent from May 12, and budget presentations are available on their Economics webpage. In addition to the May forecast, available information includes presentations to the Joint Budget Committee and other material. Additional documents, including information on emergency funding and budget comebacks, can be found on the OSPB homepage and on their Budget Documents page.
- Legislative Council’s May forecast, released on May 12, can be viewed here. Additional budget documents are listed on the General Assembly’s Budget Overview page. Documents are listed in date order. Among the documents released today is a General Fund Overview spreadsheet. See also Legislative Council’s Economy & Budget page for more fiscal and budget information.
- The Joint Budget Committee (JBC) is the legislative committee tasked with overseeing the state budget. They have been meeting daily; for their schedule, along with budget documents, go to the JBC homepage.
The budget is an ongoing process, so keep checking these websites for new and updated information.