Colorado State Treasurer Mark Hillman says the passage of Referendum C does not give legislators an open checkbook to spend as they wish. In a statement released Wednesday the treasurer says passage of the measure allows the state to restore funding to some programs that have seen cuts in recent years, but he says nothing guarantees that revenues will rise to the levels forecast by supporters.
Hillman says the state should spend cautiously, replenish reserves and avoid the temptation to build unreasonable expectations for the future.
Hillman became acting state treasurer last June after Mike Coffman took a leave of absence to rejoin the military. Coffman is currently in Iraq where he is an advisor to the ruling government.
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