The State of Colorado’s finances are handled by several state agencies, including the Department of the Treasury.
Revenue and Taxes
Revenue from sources like taxes and fines is collected by the Colorado Department of Revenue and given to the Treasury to manage. Much like a bank would handle personal checking accounts, the State Treasury holds billions of dollars in accounts and keeps it safe.
The Department of Revenue publishes an annual report about how the state collects tax revenue. For a broad overview of state taxes, see the Colorado Tax Handbook from the Legislative Council Staff.
Revenue Projections
Revenue projections are updated quarterly by both the Governor’s Office of State Planning and Budgeting and the Legislative Council Staff.
State Budget
Colorado’s budget is developed jointly by the Governor and the Legislature. The Governor prepares and submits a budget request to the Legislature's Joint Budget Committee. After hearing from each of the Departments, the Joint Budget Committee prepares the Long Appropriations Bill. Once it has been debated and passed by the Legislature, the Governor can sign or veto all or part of the bill.
To learn more about the budget process, visit the Office of State Planning and Budgeting or the Joint Budget Committee websites.
How Funds Are Spent
The state budget funds a wide range of services. The Treasury distributes money to government agencies and groups that spend it on fixing roads, building schools, and funding many other projects. The Treasury makes sure there’s enough money to keep everything running smoothly in our state.
K-12 education and healthcare represent some of the largest portions of the state’s general fund budget. Detailed spending information is available from agencies like the Department of Education and the Department of Health Care Policy and Financing.
Annual Finance Reports
The Annual Comprehensive Financial Report, published by the State Controller’s Office, is the official record of Colorado’s fiscal activity and is audited each year by an independent third party.
Constitutional Fiscal Rules
Colorado’s Constitution includes unique fiscal policies like the Taxpayer Bill of Rights and Amendment 23. The Legislative Council Staff has published summaries and reports explaining how these affect state finances.
Other Financial Activities
The Treasury is involved in a wide range of other financial activities in the state, including management of the state’s debt, investment portfolios, and unclaimed property funds.