Date: 01/19/2006
Final
Staff Overview of Various Issues
COMMITTEE ON CAPITAL DEVELOPMENT
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08:19 AM -- Staff Overview of Various Issues
Ms. Jennifer Moe, Legislative Council Staff, presented an overview of statutory requirements for supplemental requests. Ms. Moe also presented an overview of the revenue available for FY 2006-07 capital construction requests and the five-year capital outlook. Ms. Moe referenced three memoranda that she prepared for the committee, copies of which were provided to committee members. The memoranda explain the supplemental appropriations process and timeline (Attachment D), revenue available for capital construction and controlled maintenance projects from the Capital Construction Fund and Controlled Maintenance Trust Fund (Attachment E), and the five-year outlook for capital expenditures, including Certificates of Participation (COP) commitments (Attachment F). The committee also received a memorandum prepared by Legislative Council Staff detailing issues to be considered by the committee in future discussions (Attachment G). A discussion ensued regarding supplemental requests that have been forwarded to the Joint Budget Committee in the current fiscal year. A discussion followed regarding projects currently being funded with COPs. During the discussion, Ms. Moe clarified funding commitments for COPs, the source of funds to meet these commitments, and the payment timetable for the Colorado State Penitentiary II COP project.