News - Local
Governor slashes $286 million from state budget
Posted: Oct 28, 2009 11:31 AM by Bea Karnes
Gov. Bill Ritter has laid out his plan to cut another $286 million from the state budget. The cuts announced Wednesday morning include reductions in Medicaid provider rates and severance tax grant funds for counties impacted by oil and gas drilling.
The biggest cut is to higher education--$145 million. The cuts to higher education will be covered by federal funds this year, but those funds will not be available next year. Colleges and universities may be hard hit if new funds are not found by then.
Here's a complete list of cuts provided by the governor's office:
Higher Education (with 100 percent Recovery Act backfill) $145 million
Recovery Act State Fiscal Stabilization Fund $45.1 million
Severance Tax Grant Funds $37.4 million
Medicaid Payment Adjustment $16.3 million
Suspend Clean Energy Fund Transfer $14.2 million
Refinance Certificates of Participation $10.8 million
Fitzsimons Trust Fund Cash Fund Transfer $6 million
Medicaid Provider Rate Reduction $3.1 million
TANF Refinancing $3 million County
Tax Base Subsidy $2.8 million
Department of Corrections Canteen Cash Fund Refinance $2.5 million
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