JBC proposes $18.4B state budget
The Joint Budget Committee (JBC) on Monday presented to legislators a $18.4 billion state budget bill that recommends increases for health care and education funding.
Under the proposed budget, public schools would get an additional $150 million in the 2008-09 fiscal year. Colleges and universities would receive $64 million more.
The state’s health care policy and financing department would get about $68 million more, much of which would be used to give more children and people with disabilities access to government-sponsored health coverage.
The Colorado Department of Transportation’s state highway fund is expected to receive $236 million more in funds — a figure that’s not set by legislators and is subject to change based on actual revenue.
Rep. Bernie Buescher, D-Grand Junction, co-chair of the JBC, said the committee "had to make tough decisions" to anticipate shortfalls for upcoming years, including devoting less money to capital construction projects in the state instant cash advance.
"We expected a decrease in revenue, but we didn’t expect anything as serious as what we were dealt with on Thursday," Buescher said.
On March 20, the Colorado Legislative Council issued a revenue forecast showing that the state expects to collect $486.7 million less for the general fund and $207.1 million less for the cash fund between fiscal year 2007 and 2012 than it forecasted late last year.
Weaker expectations for economic growth drove the forecast reductions.
But despite the slow economy, the JBC recommended adding 1,334 full-time employees to the state’s payroll in the 2008-09 fiscal year.
Buescher said most of the new positions would help meet growing demands in the Department of Corrections and increased enrollment in colleges and universities.
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