(1) Repealed.
(2) On or before September 15 of each year, the controller shall prepare and transmit to the executive director of the department of revenue a graphic summary of statewide revenue and expenditures of the state as published in the controller's comprehensive annual financial report. The executive director of the department of revenue shall print such summary each year in a prominent location on the state income tax instruction booklet. The summary shall be for the last complete fiscal year.
(3) For the 1997-98 fiscal year and for each fiscal year thereafter, the controller shall prepare a report for the state ascertaining the amount of uncommitted reserves, as defined in section 24-75-402 (2)(h), credited to each state cash fund, as defined by section 24-75-402 (2)(b). The state controller shall include in the report the amount of the capital reserve that is excluded from the definition of uncommitted reserves in accordance with section 24-75-402 (2)(h)(I). The state auditor shall audit such report. Such report must be delivered to the office of state planning and budgeting and to the joint budget committee of the general assembly on or before September 20 of each year.
Source: L. 41: p. 57, � 18. CSA: C. 3, � 18. CRS 53: � 3-3-8. C.R.S. 1963: � 3-3-8. L. 68: p. 100, � 48. L. 83: Entire section amended, p. 884, � 1, effective May 31. L. 96: (1) repealed, p. 1271, � 202, effective August 7. L. 98: (3) added, p. 1317, � 2, effective June 1. L. 2015: (3) amended, (HB 15-1280), ch. 176, p. 573, � 2, effective May 11.
Editor's note: Section 5 of chapter 176 (HB 15-1280), Session Laws of Colorado 2015, provides that changes to this section by the act apply to fiscal years that begin on or after July 1, 2014.
Cross references: For the legislative declaration contained in the 1996 act repealing subsection (1), see section 1 of chapter 237, Session Laws of Colorado 1996.
24-30-208. Information Coordination Act - policy - functions of the division of accounts and control. (Repealed)
Source: L. 83: Entire section repealed, p. 846, � 86, effective July 1.
Cross references: For the present provision concerning information coordination, see � 24-1-136.
24-30-209. Statewide financial and human resources information technology systems - billing process - statewide financial information technology systems cash fund - creation. (1) The executive director of the department of personnel or the executive director's designee shall develop a method for billing users of the department's statewide financial and human resources information technology systems services for the full cost of the service, including materials; depreciation related to capital costs; labor; and administrative overhead. Any moneys generated from the billing required pursuant to this subsection (1) shall be deposited in the statewide financial information technology systems cash fund created in subsection (2) of this section.
(2) (a) There is hereby created in the state treasury the statewide financial information technology systems cash fund. The fund consists of moneys deposited into the fund pursuant to subsection (1) of this section. The moneys in the fund are annually appropriated to the department of personnel for the costs of information technology maintenance and upgrades and for the direct and indirect costs of the department in connection with statewide financial and human resources information technology systems.
(b) All interest earned on the investment of moneys in the statewide financial information technology systems cash fund is credited to the fund. Any unexpended and unencumbered moneys in the fund at the end of any fiscal year remain in the fund and do not revert to the general fund or any other fund.
Source: L. 2015: Entire section added, (SB 15-246), ch. 134, p. 412, � 1, effective May 1.
24-30-210. Cash fund solvency fund - creation - loans - report - legislative declaration. (1) The general assembly hereby finds and declares that:
(a) When fee-funded programs use multi-year licensing and service periods, state agencies may have revenue shortfalls during off-cycle years in which revenue collections are dramatically lower than they are in on-cycle years;
(b) The COVID-19 pandemic has reduced fee revenue or disrupted the fee cycle for many state programs, which exacerbates the need for a multi-year, cash-management solution to smooth out revenue fluctuations;
(c) Fee-funded state programs should be able to weather the current and future economic downturns without resorting to large, short-term fee increases on businesses and Coloradans as they are recovering from the downturn; and
(d) Providing fee-funded programs adequate, multi-year flexibility to manage cash flows while also maintaining the existing safeguards against overcharging fee payers for services is an important state function.
(2) The cash fund solvency fund, referred to in this section as the fund, is hereby created in the state treasury. The fund consists of money credited to the fund pursuant to subsection (4) of this section and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the cash fund solvency fund to the fund.
(3) (a) Notwithstanding any provision of law to the contrary, upon the request of the office of state planning and budgeting, the state controller may transfer money from the fund to another cash fund if the state controller determines that:
(I) The primary source of revenue in the cash fund is from fee revenue;
(II) The fee revenue is collected on a multi-year licensing and service period or there has been an unexpected, significant decrease in fee revenue collected; and
(III) The cash fund will have a deficit based on current expenditures in the absence of a significant fee increase, unless a loan is made to the cash fund.
(b) After a transfer to a cash fund under subsection (3)(a) of this section, the state controller shall transfer the same amount of money from the cash fund back to the cash fund solvency fund in one or more installments. The state controller shall establish the terms of the repayment transfers, which may be over multiple fiscal years.
(4) On July 1, 2021, the state treasurer shall transfer three million one hundred thousand dollars from the general fund to the fund.
(5) Notwithstanding section 24-1-136 (11), on or before November 1, 2021, and each November 1 thereafter, the state controller shall annually report to the joint budget committee and the office of state planning and budgeting about any transfers that have been made under this section, the terms of the repayment transfers, and the amount that has been repaid.
Source: L. 2021: Entire section added, (SB 21-283), ch. 303, p. 1819, � 1, effective June 23.