Colorado

Feb 25, 2014 6:47 PM by Alyse Rzemek

Improper surpluses remain at Colorado agencies

DENVER (AP) - Twelve state agencies in Colorado are improperly hanging on to millions in fees they're not allowed to keep, despite years of attention to the problem.

A report Tuesday from state auditors showed that 12 agencies last year had amassed $25.6 million beyond the savings they're allowed to keep without lowering fees or increasing services.

The total is only a slight decline from the so-called excess cash reserve the agencies held the year before.

Under law, state agencies are supposed to retain just two months of reserve cash for each program funded by a fee.

The biggest offender was the Medical Marijuana Cash Fund, which had $12.5 million when the fiscal year ended last June. Patient fees have been dropped to $15 a year, but the program remains overfunded.

 

 

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