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Board Meeting 02/16/1984
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Board Meeting 02/16/1984
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Board Meetings
Board Meeting Date
2/16/1984
Description
Minutes, Agenda, Memorandums February 16, 1984
Board Meetings - Doc Type
Meeting
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STATE OF COLORADO <br /> • OFFICE OF STATE PLANNING AND BUDGETING 4.�n <br /> � <br /> 102 Sate Capitol Building • �' �V r �� <br /> I)enver. Colon, h 81201 `^ `�• <br /> Phrine: <br /> _101/866-110b , t: :-i ; <br /> •- L876)" <br /> Ru haul n.Limon <br /> cme <br /> August 26, 1983 pl•,nninq <br /> IIL.J"�� 866-3,86 jj���� Budgeting <br /> / 7 � 1�1Budgeting.66-111: <br /> Representative Ronald H. Strahle -� ''' <br /> House Majority Leader CO. �y <br /> State Capitol Building Room 242 COn., %, <br /> Denver, CO 80203- •1,�� i <br /> Dear Representative Strahle: ci::tb <br /> ' We are writing to you concerning the year-end general fund financial <br /> closeout of FY 1982-83. It is now confirmed that the fiscal year- <br /> end balance in the General Fund is $7,325. <br /> • <br /> In calculating the year-end general fund balance we accrued a $4.0 <br /> million liability against .FY 1982-83 representing the cost of Medi- <br /> caid sermices which were provided in FY 1982-83 but for which appro- <br />. III priations were insufficient to reimburse providers. We also <br /> included revenue of approximately $24.6 million from the Colorado <br /> Water Conservation Board Construction Fund (CWCB/CF) which was <br /> available to the General Fund for deficit prevention purposes <br /> pursuant to H.B. 1320. <br /> . This raises an issue regarding the mechanics of N.B. 1320 as it <br /> appears in law which Legislative Council informs us may differ from <br /> legislative intent. Specifically, the law states that $22.5 million <br /> shall be transferred to the fiscal emergency fund from the CiC8/CF <br /> . as well as all monies ". . . otherwise accruing to such funds <br /> between the effective date of this section and June 30, 1983 . ." • <br /> Pursuant to the quoted provision (CRS 24-75-211), an additional $1.6 <br /> million was required to be transferred to the fiscal emergency . - <br /> fund. The Attorney General's Office informs us informally that our <br /> understanding of this provision is correct. The initial transfer <br /> of $2.2.5 million earned interest of $.5 million in FY 1982-83 which <br /> also accrued to the fiscal emergency fund. A summary of CWCB/CF <br /> transfers to the fiscal emergency fund, under H.B. 1320 is as • <br /> follows: <br /> CWCB/CF Tranfer§' FY 1982-83 <br /> $22.5 m - Transferred to FEF on 3/22/83 <br /> .5 m - Interest earned on above 3/22-6/30/83 <br /> 1 .6 m - Payments and accrued receivables to CWCB/CF <br /> 3/22-6/30/83 also transferred or accrued to FEF <br /> $24.6 m - Total <br />
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