Colorado Legislative Council Staff

NO FISCAL IMPACT

TITLE:            CONCERNING THE AUTHORITY TO ADMINISTER LINE-ITEM APPROPRIATIONS, AND, IN CONNECTION THEREWITH, EXTENDING FOR AN ADDITIONAL TIME PERIOD EXISTING AUTHORITY FOR LIMITED TRANSFERS BETWEEN SUCH APPROPRIATIONS AND EXISTING ADMINISTRATIVE AUTHORITY TO OVEREXPEND SUCH APPROPRIATIONS.

Summary of Assessment

            This bill extends the existing authority for the overexpenditure of line-item appropriations and for limited transfers between the line-item appropriations that is scheduled to expire in 1999 until July 1, 2004. The bill does not affect state or local revenues or expenditures. Since the bill extends existing authority until 2004, the bill is assessed as having no fiscal impact. The bill would become effective upon signature of the Governor.

            The bill clarifies that an overexpenditure includes any instance in which the total expenditures charged to a specific line item of appropriation are in excess of the total spending authority appropriated for that line item and any instance in which sufficient cash or cash-exempt reserves have not been earned to cover related expenditures and that there is no statutory fund balance to cover the expenditures.

Departments Contacted

            Joint Budget Committee Staff