Press Release - Steps to Protect Taxpayers
OFFICE OF GOV. BILL RITTER, JR.
FOR IMMEDIATE RELEASE
THURSDAY, SEPT. 25, 2008
CONTACT:
Evan Dreyer, 720.350.8370, evan.dreyer@state.co.us
GOV. RITTER TAKES STEPS TO PROTECT TAXPAYERS
Gov. Bill Ritter announced today he is taking several steps to protect taxpayer dollars and ensure the state is able to continue providing essential services amid a deepening national economic crisis.
"These are uncertain economic times," Gov. Ritter said. "Every day, seemingly every hour, we hear about another fund or another lender that is on the brink of financial ruin. However, even in these challenging times I remain optimistic.
"Thanks to our many economic-development efforts and our diverse economy, Colorado is fortunate. We have become a magnet for a growing and vibrant New Energy Economy that encompasses traditional energy and renewable energy. We are making great strides with other knowledge-based industries of the future like aerospace, bioscience and technology.
"But we must be responsible stewards of taxpayer dollars. Colorado is not immune from what's happening around us. We must be prudent and we must be thoughtful in our planning. We must take steps now to ensure we have options should state revenues begin to dramatically decline."
Therefore, Gov. Ritter today took the following steps as part of a budget contingency plan:
- Implementing a hiring freeze for the Executive Branch effective Oct. 1. Departments will be allowed to finalize the hiring process only if a candidate has been offered and accepted a position by Monday, Sept. 29. This will not apply to essential personnel and those who are critical to protecting the health, life and safety of Coloradans. This also will not apply to institutions of higher education, the Colorado Department of Education and departments headed by other statewide elected officials, although Gov. Ritter encourages those officials to take similar steps.
- Requesting that institutions of higher education and state agencies delay the start of new construction on state-funded projects through January 31, 2009.
- Requesting that the issuance of grants for full-day kindergarten capital construction projects be delayed. These grants have not yet been issued and I believe it prudent to delay distribution of these funds.
- Directing department heads to scrutinize their budgets for additional savings and work with their employees to identify other money-saving ideas and strategies.
"I am taking these steps as a prudent, conservative and responsible contingency plan," Gov. Ritter said. "Colorado's overall economy is doing far better than the national economy. But as the president said last night, the national economy has not faced such dire trouble in generations. At this challenging time, we must take thoughtful steps to protect taxpayer dollars and ensure that we are able to provide essential services."
Gov. Ritter said he will continue working closely with Budget Director Todd Saliman and the legislature's Joint Budget Committee to monitor actual revenue receipts over the coming weeks and months. Gov. Ritter also noted that earlier this year, with the help of state employees, the Governor's "Government Efficiency and Management (GEM) Performance Review" identified $200 million in cost savings and benefits.
"Economies are cyclical and we will come out of this," Gov. Ritter said. "Because of our efforts to build a New Energy Economy, tourism and other 21st century economic sectors, we will be well-positioned to take advantage of these 21st Century opportunities for hard-working Coloradans and our many family owned businesses."