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H_FIN_2018A 11/26/2018 01:36:37 PM Committee Summary

PUBLIC
STAFF SUMMARY OF MEETING
JOINT COMMITTEE COMMITTEE ON JOINT FINANCE
Date 11/26/2018
Attendance
Beckman X
Benavidez X
Court *
Covarrubias E
Foote X
Gray X
Herod E
Jahn E
Kennedy X
Lawrence *
Michaelson Jenet E
Sandridge *
Smallwood X
Tate X
Thurlow X
Van Winkle E
Neville T. X
Pabon *
Time 01:36:37 PM to 04:56:35 PM
Place Old State Library
This Meeting was called to order by Neville T.
This Report was prepared by Matt Becker
Hearing Items Action Taken
OSPB, Joint Rule 25 Hearing Committee Discussion Only
Office of the State Auditor Presentation Committee Discussion Only
Department of Revenue, SMART Act Hearing Committee Discussion Only
Public Employees' Retirement Association, SMART Act Hearing Committee Discussion Only
Department of the Treasury, SMART Act Hearing Committee Discussion Only

OSPB, Joint Rule 25 Hearing - Committee Discussion Only
01:39:00 PM  
Lauren Larson, Director, Governor's Office of State Planning and Budgeting, presented the Governor's FY 2019-20 budget request. The request can be found at: https://drive.google.com/file/d/13ZsNHLF4t_sZ8ILD8d2pFDdGH_e2ixoB/view
01:46:14 PM  
Ms. Larson responded to committee questions.



Office of the State Auditor Presentation - Committee Discussion Only
01:52:49 PM  

Monica Bowers, Deputy State Auditor, Office of the State Auditor (OSA), provided an overview of the office.  A copy of the OSA FY 2017-18 Annual Report can be found here: https://leg.colorado.gov/sites/default/files/2018_annual_report_final_8-21-2018.pdf.
01:55:34 PM  
Nina Frant, Audit Manager, OSA, discussed the Gaming Administrative Expense Performance Audit.

A copy of the audit can be found here: http://leg.colorado.gov/audits/gaming-administrative-expenses
01:58:53 PM  
Michelle Colin, Audit Manager, OSA, discussed the Colorado Lottery Performance Audit.

A copy of the audit can be found here: http://leg.colorado.gov/audits/colorado-lottery-2
02:02:55 PM  
Ms. Colin responded to committee questions.
02:07:17 PM  

Cindi Radke, IT Audit Manager, OSA, discussed the 2018 Annual Report of Outstanding Audit Recommendations. A copy of this report can be found here: http://leg.colorado.gov/audits/annual-report-status-outstanding-audit-recommendations-june-30-2018

 
02:13:40 PM  

Trey Standley, Audit Manager, OSA, provided an overview of the 2018 Tax Expenditure Compilation Report.  A copy of the report can be found here: https://leg.colorado.gov/node/1147266

 
02:35:10 PM  
Mr. Standley responded to committee questions.



Department of Revenue, SMART Act Hearing - Committee Discussion Only
02:48:31 PM  

Michael Hartman, Executive Director, Department of Revenue (DOR), provided a presentation to the committee.  A copy of the presentation is included as [Attachment A].
02:58:24 PM  
Mr. Hartman responded to committee questions.
02:59:06 PM  
Heidi Humphreys, Deputy Executive Director, continued the presentation.
03:06:22 PM  
Mr. Hartman responded to committee questions.
03:19:47 PM  
Mr. Hartman responded to committee questions regarding sex identifiers on driver's licenses.
03:20:20 PM  
Ms. Humphreys discussed an overview of the Divisions of Enforcement, Auto Industry, Gaming, Liquor and Tobacco Enforcement, Racing, and Marijuana Enforcement and responded to committee questions.
03:40:06 PM  
Mr. Hartman discussed the Division of Taxation and responded to committee questions about the U.S. Supreme Court's decision in the South Dakota v. Wayfair case.
03:58:57 PM  
Ms. Humphreys discussed the Lottery Division.
04:01:37 PM  
Mr. Hartman discussed the Executive Director's
Office and other recent initiatives of the department.
04:10:06 PM  
Ms. Humphreys discussed recent LEAN trainings
and process improvements for the department, as well as the department's
rulemaking principles, regulatory agenda, outstanding audit recommendations,
FY 2019-20 budget requests, and 2019 legislative initiatives.



Public Employees' Retirement Association, SMART Act Hearing - Committee Discussion Only
04:17:47 PM  
Ron Baker, Executive Director, and Amy
McGarrity, Chief Investment Officer, Public Employees' Retirement Association
(PERA) provided a presentation about PERA to the committee [Attachment
B].
04:30:52 PM  
Mr. Baker responded to committee questions
regarding Senate Bill 18-200 and PERA's asset investment allocation.



Department of the Treasury, SMART Act Hearing - Committee Discussion Only
04:44:32 PM  
Charles Scheibe, Chief Financial Officer,
Department of the Treasury, presented the department's 2018 performance
plan to the committee [Attachment C] and responded to committee questions.


04:56:35 PM   Committee Adjourned