Colorado Statutes
§ 22-44-104 — Failure to adopt budget or appropriation
If a board of education
fails or neglects to adopt a budget or an appropriation resolution prior to the
beginning of the ensuing fiscal year as required by section 22-44-103, then ninety
percent of the amounts budgeted and appropriated to the funds, functions, and
objects by the last duly adopted budget and appropriation resolution shall be
deemed to be budgeted and appropriated by operation of law for the fiscal year for
which no budget or appropriation resolution was adopted prior thereto; but an
amount of money sufficient to satisfy all obligations of bonded indebtedness which
will be due and payable during said fiscal year shall be deemed to be budgeted and
appropriated by operation of law.
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Legislative History
Source: L. 64: p. 618, � 4. C.R.S. 1963: � 123-32-4.
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Statements from private schools