By Donna Fowler
The Colorado Legislative Council is predicting that, in spite of a somewhat pessimistic overall state economic forecast it released Sept. 20, General Fund revenues will increase in fiscal years 2012-13 and 2013-14.
The council projections for General Fund revenues in both June and September have been higher by modest percentages as have the projections of the Governor’s Office of State Planning and Budgeting (OSPB). For the current fiscal year, the council projects a .9 percent increase and the OSPB predicts a 3.1 increase. Both groups have forecasted a 1.2 percent increase for FY 2013-14
While many factors could affect revenue, the final budget decisions will not be made until late in the 2013 legislative session. The projected increase bodes well for higher education institutions in that they might not have to face additional cuts to their budgets.
At MSU Denver, the budget already has experienced a shortfall due to a decrease in enrollment—one that University officials planned for by setting aside institutional reserves.
“However, further enrollment declines could negatively impact the institutional budget,” says Natalie Lutes, vice president for administration, finance and facilities.
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