Dec 5, 2010 5:03 PM by AP

Colo amasses $3.7 bil in unpaid obligations

DENVER (AP) - In its struggles to deliver balanced state budgets over the past 10 years, Colorado has amassed $3.7 billion in obligations it may never pay.

That sum includes severance taxes taken from municipalities, funds for tourism promotion and waste tire cleanup, and prison and school bus costs that were never paid for.

State budget analysts have told the Legislature's Joint Budget Committee that the 2011-2012 budget, with an anticipated $1.1 billion shortfall, no longer includes the $3.7 billion cut over the years.

(Copyright 2010 by The Associated Press. All Rights Reserved.)



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