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Higher Ed in the News

Colorado's budget shortfall continues to increase

December 20, 2009

Colorado's budget shortfall has grown another $40 million, to $600.6 million, for the fiscal year that ends in June 2010.

Even with 4.4 percent projected growth in general-fund revenue collections for fiscal year 2010-2011, the general fund actually will shrink by 6.3 percent because so many one-time sources of money — such as federal stimulus funds or cash funds — will either shrink or go away.

"It looks like the recession is over and the recovery is beginning," said Natalie Mullis, the legislature's chief economist. "However, the end of the recession does not mean the end of difficult times."

In August, Gov. Ritter ordered a number of spending cuts, including closing some facilities for the mentally ill and developmentally disabled, instituting a controversial early release of some prisoners, more furlough days for state workers and leaving some state positions vacant.

Republicans say the forecast signals that Ritter and the Democratic-led legislature have not made serious cuts to balance the budget

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Read the full story from the Denver Post.