March 2007 Revenue and Economic Forecast
The changes in revenues forecast for the coming 5 years, although modest, reflect events in the national and state economy that bear watching. The 5-year general fund revenue forecast (in Table 1 of the March Focus Colorado), in comparison with that of December 2006, fell by just $231.1 M, an average of around $46 M per year. Despite this adjustment, Mr. Mauer still expects that general fund programs and services will still likely grow at the 6% limit required under law, and that the SB 971 diversion to the highway users tax fund (HUTF) will be fully funded. This annual diversion ranges from $228.9 M to $273.2 M over the forecast period.
Released March 27, 2007