1 CCR 101-1 - STATE OF COLORADO FISCAL RULES

These Fiscal Rules are effective as of July 1, 2024.

PURPOSE

The purpose of these Fiscal Rules is to implement statutory provisions, set forth principles concerning internal controls, accounting policies, and financial reporting for the State of Colorado, and assist the State Controller in managing the finances and financial affairs of the State.

STATUTORY AUTHORITY

Colorado Revised Statutes created the Office of the State Controller. Part 2, Title 24, Article 30, C.R.S., lists the powers and duties of the State Controller and is incorporated as a reference into each of these Fiscal Rules. Section 24-30-202(13), C.R.S. provides the authority of State Controller to issue binding Fiscal Rules and is specifically incorporated into each of these State Fiscal Rules as statutory authority.

DEFINITIONS

In addition to any definitions contained in each rule, the following general definitions shall apply to and are incorporated into each of these Fiscal Rules:

Chief Executive Officer - Executive Director, Commissioner, President, and/or any individual delegated to act on behalf of such individuals.

Chief Fiscal Officer - Top financial position in the State Agency or Institution of Higher Education.

Controller - The individual with the powers, duties, and functions created pursuant to § 24-30-201, C.R.S. The Controller may delegate these powers, duties, and functions. The term Controller as set forth in § 6-1-1303(7) C.R.S Rule 2.02 does not apply to the Controller and delegates in § 24-30-201, C.R.S.

Elective Officers - Governor, Lieutenant Governor, Attorney General, Secretary of State, and Treasurer.

Institution of Higher Education - A college or university in Colorado State government created by law, executive order, or any other authority that has not elected to be exempt from these Fiscal Rules under § 24-30-202(13)(b), C.R.S.

Principal Departments - The State executive departments identified in § 24-1-110, C.R.S., and the Office of the Governor.

Procurement Official - The individual of a purchasing agency with purchasing authority created pursuant to § 24-102-202(3), C.R.S., or § 24-102-302(2), C.R.S

State - The State of Colorado.

State Agency - A department, division, section, unit, commission, board, bureau, or institution in Colorado state government created by law, executive order, or any other authority, other than an Institution of Higher Education.

APPLICABILITY

These Fiscal Rules are applicable to all State Agencies and Institutions of Higher Education (except those Institutions that have elected to be exempt from these Fiscal Rules under § 24-30-202(13)(b), C.R.S.), to all employees of the state in the applicable State Agencies and Institutions of Higher Education, and to all funds in the executive branch of State government.

Pursuant to § 24-2-102(4) C.R.S., an Elective Officer and each Elective Officer's second-in-command, such as a deputy or chief of staff, may elect to exempt any solicitation or commitment voucher from either or both of § 24-30-202 C.R.S., including the Fiscal Rules, and Title 24, Article 101 C.R.S. (Procurement Code) on a case-by-case basis. The Elective Officer, or designee, shall authorize the use of the exemption, which shall be documented prior to issuing the solicitation for exemptions from the Procurement Code or upon executing the Commitment Voucher, defined in Fiscal Rule 3-1 (Commitment Vouchers), for exemptions from § 24-30-202, C.R.S. The departments headed by Elective Officers are otherwise subject to § 24-30-202 C.R.S., including these Fiscal Rules, and the Procurement Code, Title 24, Article 101, C.R.S., unless the Elective Officer chooses to exempt all solicitations and commitment vouchers by expressly documenting his or her intent.

RESPONSIBILITY

It is the responsibility of the Chief Executive Officer of each State Agency or Institution of Higher Education to ensure compliance with these Fiscal Rules.

ADMINISTRATIVE HARDSHIP

A State Agency or Institution of Higher Education may submit a written request to the State Controller, with notification to the State Agency's or Institution of Higher Education's Chief Executive Officer, for exemption and/or alternative policy if any of these Fiscal Rules create undue administrative or financial hardship. The State Controller may approve or deny such request.

DEPARTMENTAL POLICIES

A State Agency or Institution of Higher Education may implement internal policies regarding these Fiscal Rules that may be more restrictive than these Rules. If a State Agency or Institution of Higher Education develops such policies, then employees at that State Agency or Institution of Higher Education shall comply with those policies in addition to complying with these Fiscal Rules.

SUBSTANCE OVER FORM

When reviewing any action for compliance with these Fiscal Rules, the individual reviewing that action shall review the substance of the action and not just the legal form of that action. These Fiscal Rules apply to the true intent of the transaction as opposed to its mere form.