Colorado Legislative Council Staff
NO FISCAL IMPACT
January 27, 1998
Harry Zeid (866-4753)
TITLE: CONCERNING LIMITED AUTHORITY FOR THE CONTROLLER TO ALLOW EXPENDITURES IN EXCESS OF APPROPRIATIONS FOR THE PURPOSE OF ADDRESSING UNFORESEEN CIRCUMSTANCES ARISING WHEN THE GENERAL ASSEMBLY IS NOT MEETING IN SESSION.
Summary of Assessment
Effective for fiscal years commencing on or after July 1, 1997, this bill would authorize the State Controller to allow any department, institution, or agency of the state, including any institution of higher education, to make an expenditure in excess of the amount authorized by an item of appropriation under limited circumstances that are identified in the bill. When the overexpenditure is authorized, the State Controller would be required to restrict the agency’s appropriation for the next fiscal year by an amount equal to the overexpenditure unless the agency obtains a supplemental appropriation to cover the original overexpenditure.
The bill formalizes a process that is currently in use for authorizing expenditures in excess of appropriations for the purpose of addressing unforeseen circumstances arising when the General Assembly is not meeting in session. The bill would not affect the revenues or expenditures of the state or of units of local government. Therefore, the bill is assessed as having no fiscal impact. The bill would become effective upon signature of the Governor.
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