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General Fund revenue the same as nine years ago, but state is serving 700,000 more Coloradans

It’s like managing a family budget when the kids need braces, the roof needs repair, another baby’s on the way, and you just took a big pay cut. Colorado’s General Fund revenue in fiscal year 2010 was nearly the same as its2001 level, but the “family” has added 700,000 Coloradans, which combined with the recession, has created a drastically higher demand for services including:

  • 70,000 more students in kindergarten through 12th grade
  • 35,000 more college students
  • 150,000 more Medicaid recipients
  • 2,500 more prisoners

General Fund revenues are projected to rebound in fiscal year 2011, but not enough to meet the growing need for services. So the 2011 budget, which began July 1, 2010, includes cuts to services:

  • Kindergarten through 12th grade education was cut $450 per student
  • Struggling child welfare services were cut $6.7 million
  • State support for human services was cut 2.3 percent
  • Medicaid was cut $129 per recipient
  • Higher education was cut $466 per student

It’s the economy
Income tax and sales tax collections account for most General Fund revenue. The recession has led to higher unemployment rates, while other people have less take-home pay, which reduces income tax collections. Lower incomes result in reduced spending on goods that are taxed. All the while, people without work seek help through college classes, food stamps or health care.

Contact: Terry Scanlon
Fiscal policy analyst
303-573-5669, ext. 311

Released Sept. 9, 2010

 

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