Department of Higher Education FY 2009-10 COP Request
COMMITTEE ON CAPITAL DEVELOPMENT
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08:23 AM -- Department of Higher Education FY 2009-10 Request for Certificates of Participation Payment
Ms. Lisa Esgar, Deputy Director, Governor's Office of State Planning and Budgeting (OSPB), came to the table to discuss the certificates of participation (COP) payment requested for FY 2009-10 from federal mineral lease (FML) revenue, in light of the Governor's January 2009 and October 2008 capital construction freezes. Committee members received a summary of the request for next year's COP payment, prepared by Legislative Council Staff (Attachment C). Ms. Esgar noted that there were several projects funded in the 2008 Long Bill for which subsequent phases of work were funded through the issuance of a COP on November 6, 2008. While the portion funded in the 2008 Long Bill was frozen in October 2008, the portion funded in the November 2008 COP is not frozen. Ms. Esgar reminded the committee that Colorado State University at Pueblo included cash funding in the November 2008 COP to replace the frozen state funds, and the Colorado School of Mines recently received approval from the Capital Development Committee (CDC) for cash funds spending authority in FY 2008-09 to replace the frozen state funds. Ms. Esgar said that state funding for the other projects funded in the 2008 Long Bill but subject to the October 2008 capital freeze remain frozen, and that the institutions have informed her there is no cash funding available to replace state funding and proceed with the project. She responded to questions from the committee.