Proposed Budget - Fiscal Year 2025
On November 1, Colorado Governor Jared Polis released his recommended budget for fiscal 2025. On January 2 and January 16, the governor released amendments to the budget. The final amended proposal calls for $46.0 billion in total fund spending, an increase of 4.9 percent from fiscal 2024, and $15.8 billion in general fund operating spending, an increase of 5.8 percent from fiscal 2024. Gross general fund revenue in fiscal 2025 is expected to total $18.2 billion, a 3.8 percent increase from the fiscal 2024 estimate. Combined with the state’s beginning balance of $2.4 billion, total forecasted general fund resources for fiscal 2025 are $20.75 billion, a 3.5 percent increase from the fiscal 2024 estimate. The governor recommends a general fund reserve level of $2.4 billion, or 15 percent of general fund spending.