Colorado’s economic growth has slowed over the summer, according to today’s revenue forecasts released by the Office of State Planning and Budgeting and the Colorado Legislative Council. The state economy faces many national and global threats; however, agriculture and oil prices are strong. The state’s current FY 11-12 budget is in balance, with a $64 million projected surplus. For FY 12-13, forecasters projected a surplus of approximately $370 million, assuming that the current year’s surplus is rolled over and the economic outlook remains steady. Given this minimal projection for the next year and annual increases in demand for services including Medicaid, spending reductions are expected for the coming year. Read more.
