Colorado Governor Polis submits budget proposal for Fiscal Year 2019-20
DENVER — Gov. Jared Polis today submitted his first budget proposal to the Joint Budget Committee (JBC) of the General Assembly. New K12 budget forecasts that reflect higher local district property tax revenue and lower enrollment growth and inflation have lowered the State funding need for school finance. This reduction creates room in the budget for the Governor’s proposals without increasing General Fund spending and also allows for additional savings.
“Securing equal opportunity for Colorado families is a key priority of this administration,” said Governor Jared Polis. “Whether it’s education, health care, or protecting public health and safety, this budget lays a strong foundation for a bold new vision for our state.”
The Governor’s letter to the JBC highlights priorities including full-day kindergarten, reducing health care costs, resources for oil and gas inspectors to ensure public safety, and more.
Free Full-Day Kindergarten
$227 million for communities and districts to provide free, full-day kindergarten.
Plus an additional $25.7 million for implementation costs to ensure curriculum, staffing, and classroom space can be made available for Fall of 2019.
Establishes the Office of Saving People Money on Health Care and sets aside funding for important healthcare reforms — including tackling prescription drug prices.
Public Health and Safety
Expands the number of field inspectors and resources at the Colorado Oil and Gas Conservation Commission to put health and safety first.
Saving for Rainy Day
Doubles the increase to rainy day funds by leaving $92 million unspent in the General Fund and adding it to the $138 million in reserves in the State Education Fund.
This is in addition to continuing the previous administration’s increase in the General Fund reserve to 8 percent (increase of $90 million to a total $955 million).