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This memorandum provides information on intergovernmental transfers of revenue from the state government to Colorado's 64 counties. Data from 2010 show that of $5.0 billion in total county revenue, about $1.3 billion or 25.8 percent came from intergovernmental transfers. The state portion made up the largest share at $800.9 million. State revenue transfers come from various taxes and nontax revenue sources.

The following memorandum provides an overview of K-12 funding proposals within the context of the state's operating budget. In December 2013, about $1.1 billion was transferred from the General Fund to the State Education Fund (SEF). The General Assembly will have to determine how to use this one-time money for school finance and other K-12 purposes in the 2014-15 budget year and subsequent years.

Focus Colorado presents forecasts for the economy and state government revenue through FY 2015-16. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

The forecast for the State Education Fund and the level of General Fund appropriations needed to pay for school finance have changed from when the General Assembly adjourned in May 2013. Property values have stabilized and are expected to grow modestly over the next few years, helping to boost the local contribution to school finance. Similarly, income tax receipts are growing faster than anticipated, increasing deposits into the State Education Fund and the General Fund.

Overview of the State Education Fund and K-12 Public School Funding

The forecast for the State Education Fund and the level of General Fund appropriations needed to pay for school finance have changed from when the General Assembly adjourned in May 2012. Property values have stabilized and are expected to grow modestly over the next few years, helping to boost the local contribution to school finance. Similarly, income tax receipts are growing faster than anticipated, increasing deposits into the State Education Fund and the General Fund.

The forecast for the State Education Fund and the level of General Fund appropriations needed to pay for school finance have changed from when the General Assembly adjourned in May 2011. Property values have stabilized and are expected to grow slowly over the next few years, helping to boost the local contribution to school finance. Similarly, income tax receipts are growing, which is increasing deposits into the State Education Fund and the General Fund.

The forecast for the State Education Fund and the level of General Fund appropriations have changed from when the General Assembly adjourned in May 2010. The ongoing economic recession is affecting forecasts for property values and income tax receipts, which in turn are placing pressure on state aid appropriations. Despite projected increases in General Fund revenue, declining local taxes are putting pressure on the State Education Fund to support education funding.

This memorandum provides a brief description of the Colorado Public Employees' Retirement Association (PERA), presents the pension plan's historical funded ratio, and summarizes provisions of 2010 PERA reform legislation.