Colorado May Suffer from Budget Shortfall

By: KKCO Email
By: KKCO Email

Colorado could be facing a budget shortfall this year of more than a half billion dollars.

Estimates about the shortfall have been inconsistent between the Governors Office and the Legislature. Now even the Governor’s Office said its forecast is off because of outdated information.

The new forecast from Governor Bill Ritter’s budget office puts the shortfall in the current fiscal year ending in June at $230 million. That’s more than three times the $70.2 million the governor’s office forecast just 11 days ago.

A forecast from legislative staff put the shortfall at $604 million.

The two offices agreed to sit down and go over their calculations together. Ritter is asking state agencies to submit proposals to cut their budgets by 10 percent in the next fiscal year, which starts in July.

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