CO Code § 24-75-201 (2021)
2021 Colorado Code|Title 24 - Government - State|Article 75 - State Funds|Part 2 - General Fund|§ 24-75-201. General Fund - General Fund Surplus - Custodial Moneys

  There is hereby created and established the general fund, to which shall be credited and paid all revenues and moneys not required by the state constitution or the provisions of any law to be credited and paid into a special fund. The surplus fund created before June 30, 1971, is hereby merged into the general fund. Any unrestricted balance remaining in the general fund at the end of any fiscal year shall be designated as the general fund surplus.      The general fund surplus shall be determined based upon the accrual system of accounting, as enunciated by the governmental accounting standards board; except that: (2) (a) The general fund surplus shall be determined based upon the accrual system of accounting, as enunciated by the governmental accounting standards board; except that:   For state fiscal years commencing before July 1, 2003, any general fund revenues that are designated as state revenues in excess of the constitutional limitation on state fiscal year spending shall be included as unrestricted revenues in the general fund surplus for the fiscal year in which such excess revenues were accrued. Such excess revenues shall be restricted in the next fiscal year to preserve their availability for refund unless voters have authorized the state to retain such excess revenues.    General fund revenues shall be restricted only upon the issuance of a commitment voucher to the state controller by the department of health care policy and financing for the payment of a sufficient claim that warrants reimbursement in accordance with the "Colorado Medical Assistance Act", articles 4, 5, and 6 of title 25.5, C.R.S., from general fund revenues appropriated for any nonadministrative expenditure that qualifies for federal financial participation under Title XIX of the federal "Social Security Act", except for expenditures under the program for the medically indigent, article 3 of title 25.5, C.R.S., or for the contributions required by 42 U.S.C. sec. 1396u-5 (c).    (A) General fund revenues shall be restricted only upon actual payment on the first and fifteenth working day of July of salaries of state employees for the month of June from general fund revenues.    (A) For the state fiscal year commencing July 1, 2010, and each state fiscal year thereafter, general fund revenues shall be restricted only upon payment for the purchase of services in July from the office of information technology created in section 24-37.5-103 in an amount reported to state agencies by the office of information technology as required in sub-subparagraph (B) of this subparagraph (IV). State agencies shall report to the office of information technology by June 30, 2010, the amounts for positions that restricted general fund revenues in the 2009-10 fiscal year.       (Deleted by amendment, L. 2003, pp. 1899, 2638, §§ 1, 1, effective July 1, 2003.)         Custodial moneys do not include moneys granted by the federal government to the state for the support of general or essential state government services of the type for which expenditures are made in the most recently approved annual general appropriation act, including, but not limited to, additional payments received by the state under the federal "Jobs and Growth Tax Relief Reconciliation Act of 2003", as amended, (Pub.L. 108-27), received by the state on or after April 30, 2004. (3) (a) Custodial moneys do not include moneys granted by the federal government to the state for the support of general or essential state government services of the type for which expenditures are made in the most recently approved annual general appropriation act, including, but not limited to, additional payments received by the state under the federal "Jobs and Growth Tax Relief Reconciliation Act of 2003", as amended, (Pub.L. 108-27), received by the state on or after April 30, 2004.    Nothing in this subsection (3) shall cause federal relief payments under the federal "Jobs and Growth Tax Relief Reconciliation Act of 2003", as amended, (Pub.L. 108-27), received by the state prior to April 30, 2004, to be credited or transferred to the general fund or any other fund of the state or to be subject to annual appropriation by the general assembly.    All federal moneys described in paragraph (a) of this subsection (3) shall be credited and paid to the general fund unless otherwise provided by law and shall be subject to annual appropriation by the general assembly.      An amount equal to five percent of Colorado personal income; or    Six percent over the total state general fund appropriations for the previous fiscal year.      Any state general fund appropriation which, as a result of any requirement of federal law, is made for any new program or service or for any increase in the level of service for an existing program beyond the existing level of service;    Any state general fund appropriation which, as a result of any requirement of a final state or federal court order, is made for any new program or service or for any increase in the level of service for an existing program beyond the existing level of service; or    Any state general fund appropriation of any moneys which are derived from any increase in the rate or amount of any tax or fee which is approved by a majority of the registered electors of the state voting at any general election.      Which authorizes an increase in expenditures necessary to offset an increase in costs to provide an existing program or service due to inflation or any increase in the number of recipients which does not result from any requirement of state law which either enlarges an existing class of recipients or adds a new class of recipients; or    Which is funded by user charges that do not exceed the cost of the goods or services provided, and the purchase of such goods or services by the user is voluntary.      "Colorado personal income" means the total personal income for Colorado, as defined and officially reported by the bureau of economic analysis in the United States department of commerce, for the calendar year preceding the calendar year immediately preceding a given fiscal year.    "Increase in the level of service for an existing program" does not include any increase in expenditures necessary to offset an increase in costs to provide such service due to inflation or any increase in the number of recipients of such service unless such increase results from any requirement of federal law which either enlarges an existing class of recipients or adds a new class of recipients.    "Requirement of federal law" means any federal law, rule, regulation, executive order, guideline, standard, or other federal action which has the force and effect of law and which either requires the state to take action or does not directly require the state to take action but will, according to federal law, result in the loss of federal funds if state action is not taken to comply with such federal action.    "State cash fund appropriation" means any appropriation of moneys which are not general fund moneys and which are the result of the collection of any fee authorized by law.      Except as otherwise provided in sub-subparagraph (B) of this subparagraph (X), two percent of the amount appropriated for expenditure from the general fund for that fiscal year. The additional amount of general fund moneys made available for appropriation by the reduction in the required reserve from four percent to two percent may be appropriated during the fiscal year 2008-09 for any lawful purpose.    If the revenue estimate prepared for the fiscal year 2008-09 in accordance with section 24-75-201.3 (2) in June of 2009 indicates that general fund expenditures for that fiscal year based on appropriations then in effect will exceed the amount of general fund revenues available, excluding the reserve required by sub-subparagraph (A) of this subparagraph (X), upon written order, the governor may further reduce the required reserve from two percent to either a lower percentage or to a zero percentage as is necessary to cover to the greatest extent possible any appropriations then in effect made from the general fund for which general fund moneys would not otherwise be available comprising such reserve.      Except as otherwise provided in sub-subparagraph (B) of this subparagraph (XI.5), the general fund surplus shall be transferred to the state education fund created in section 17 (4) of article IX of the state constitution.    An amount equal to the additional estimated revenue shall be transferred to the state public school fund created in section 22-54-114, C.R.S.; except that the transfer pursuant to this sub-subparagraph (B) shall not exceed sixty-seven million five hundred thousand dollars. For purposes of this sub-subparagraph (B), "additional estimated revenue" means the amount by which the June 2011 estimate of general fund revenue prepared by the office of state planning and budgeting for the 2010-11 fiscal year exceeds the March 2011 estimate of general fund revenue prepared by the office of state planning and budgeting for the 2010-11 fiscal year.        Source: L. 03: p. 103, § 1. R.S. 08: § 2717. C.L. § 333. CSA: C. 153, § 75. CRS 53: § 130-4-1 . C.R.S. 1963: § 130-4-1 . L. 71: p. 1203, § 1. L. 79: Entire section amended, p. 977, § 1, effective July 1. L. 98: Entire section amended, p. 848, § 3, effective May 26. L. 2002: (2) amended, p. 933, § 1, effective June 1. L. 2003: (2)(a) amended, p. 53, § 2, effective March 5; (2)(a) amended, p. 14, § 2, effective March 5; (2) amended, p. 1899, § 1, effective July 1; (2) amended, p. 2638, § 1, effective July 1. L. 2004: (3) added, p. 693, § 1, effective April 30. L. 2006: (2)(a)(II) amended, p. 917, § 2, effective May 11; IP(2)(a)(II) amended, p. 2011, § 76, effective July 1. L. 2007: (2)(a)(II) amended, p. 466, § 4, effective July 1. L. 2009: (2)(a)(IV) added, (HB 09-1367), ch. 321, p. 1712, § 1, effective June 1. L. 2015: (2)(a)(III)(A) amended, (HB 15-1392), ch. 320, p. 1304, § 2, effective June 5.   Editor's note: (1) Amendments to subsection (2) by House Bill 03-1238 and Senate Bill 03-222 were harmonized. Amendments to subsection (2)(a) by Senate Bill 03-196 and Senate Bill 03-197 were harmonized.   (2) Subsection (2)(a)(III) was originally numbered as (2)(a)(II) in Senate Bill 03-197 but has been renumbered on revision for ease of location.   (3) Amendments to subsection (2)(a)(II) by Senate Bill 06-129 and Senate Bill 06-219 were harmonized.   ANNOTATION   Subsection (3) does not violate constitution. General assembly could constitutionally exclude funds that cannot fairly be described as custodial from the definition of "custodial moneys". In re Interrogatories on House Bill 04-1098, 88 P.3d 1196 (Colo. 2004).