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Gov. Jared Polis proposes Colorado budget 'for an uncertain future'

Colorado State Budget Proposal
Posted at 5:30 AM, Nov 02, 2022
and last updated 2022-11-02 07:30:23-04

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.”

Click here to read the full story on The Denver Post's website.