[420 Girl]

Gov. Bill Ritter's latest plan to help balance the budget relies heavily on money generated from the energy industry and some that's coming from marijuana smokers.

Ritter announced today he would cut about $6.2 million in spending from the state's general fund and transfer $53.4 million from various cash funds to help balance the budget. Because the state is not receiving as much federal Medicaid aid as expected, Colorado now faces a shortfall in the current budget year of about $60 million."Today's balancing plan continues the same strategies we've utilized throughout the downturn," Ritter said in a statement. "We are preserving essential services, protecting the safety net, minimizing pain and requiring shared sacrifices and shared solutions from everyone. This is a responsible plan that continues to position Colorado for a healthy and sustainable recovery."

Today's actions announced by Ritter would:

# Save $4.9 million from a 1 percent reduction in payroll costs achieved largely by not filling jobs.

# Cut $1.3 million from the Department of Corrections, including a $250,000 savings from spending less than expected on clothing and cash for inmates leaving prison; and an $89,100 savings from reducing 20 private prison beds at the Trinidad Correctional Facility.

# Transfer $15 million from a cash fund generated by oil and gas drilling that is used to provide grants to local communites affected by the energy companies' activities.

# Sweep $5 million from a local government severance tax fund.

# Take $11.4 million from a grant reserve fund for local communities generated by federal mineral lease royalties.

# Move $9.4 million from a fund for higher education funded by federal mineral lease earnings.

# Transfer $9 million from the Medical Marijuana Program Cash Fund, a windfall that comes as a result of the number of applicants for medical pot permits expected to double to 150,000 this year.

# Take $3.5 million from a cash fund in the Secretary of State's office.




NewsHawk: Ganjarden: 420 MAGAZINE
Source: The Denver Post
Author: Tim Hoover
Contact: The Denver Post
Copyright: 2010 The Denver Post
Website: Marijuana will help plug Colorado budget hole

* Thanks to MedicalNeed for submitting this article


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