Fiscal Responsibility hits Colorado
Federal Funds Transparency Act Signed Into Law
Last week, the Governor signed House Bill 1009, sponsored by Senator Kent Lambert, R-Colorado Springs, and Representative Cheri Gerou, R-Evergreen, into law. The measure will increase transparency by requiring state agencies to submit a report on how they spend federal grant money.
“This bill will finally give us an idea of how much federal money the state actually spends, and ensure that state agencies are spending the money prudently,” said Lambert. “We will now know the total amount of money each agency receives and the percentage that goes towards administrative expenses.”
Currently agencies are only required to report how much federal money they receive but, they do not have to provide information on how the money is spent. The bill also requires state agencies to create a contingency plan of what they would do if they were to lose 5%-25% of their federal funding.
It is going to happen and Sen. Lambert's bill will help Colorado be more prepared for it.

