Gov. Jared Polis unveiled a budget proposal Tuesday he described as “preparing for an uncertain future” — while also acknowledging there’s still an election and updated forecasts to come.
The state budget he proposed Tuesday totals $42.7 billion, of which $16.7 billion is in the general fund. That represents an increase of 3.5% and 7%, respectively, over the budget enacted this year. Polis noted that the general fund increase is below the rate of inflation.
It also maintains a 15% general fund reserve in case of a recession.
“There’s a risk of greater uncertainty, and we need to prepare for that,” Polis said at a press briefing. “Not always a fun thing to do, but it’s fiscally prudent and a sound thing to do.”