C6A55A2A605C5541872587D400639434 Hearing Summary

PUBLIC
BILL SUMMARY For FY 2022-23 DEPT. OF TREASURY R-03 OPERATING BUDGET REQUEST: DEPARTMENTAL TECHNOLOGY

JOINT COMMITTEE COMMITTEE ON JOINT TECHNOLOGY COMMITTEE
Date Jan 24, 2022
Location SCR 352

FY 2022-23 Dept. of Treasury R-03 Operating Budget Request: Departmental Technology - Recommend JBC approval of FY2021-22 S-03 Supplemental Budget Request and FY2022-23 R-03 Operating Budget Request

11:07:43 AM

Dave Young, Treasurer,
Cary Kennedy, Senior Fiscal Advisor to the Governor, Charles Schiebe, Treasury
Chief Financial Officer, and Andrea Day, OIT Director of IT for the Governor's
Office, presented on the Department of Treasury's R-03 and S-03 operating
budget requests. The presentation can be found here: https://leg.colorado.gov/sites/default/files/images/colorado_department_of_the_treasury_technology_presentation.pdf

11:10:04 AM

Treasurer Young began
the department's presentation, including the mission and vision of the
Treasury. Treasurer Young then went on to give an overview of the
FY2021-22 S-03 Supplemental Budget Request: Deferred Property Tax Expansion.

11:12:30 AM

Ms. Kennedy provided an overview of SB21-293 and explained the impact it has on the S-03 request.

11:15:37 AM

Treasurer Young explained
why the department has submitted this request as a supplemental request.

11:17:25 AM

Members of the committee inquired about the department's collaboration with the Office of Information Technology (OIT). Ms. Kennedy explained that OIT has been involved, and will continue to be involved, with the implementation of the department's program.

11:21:08 AM

Members of the committee asked about what specific contributions/consulting OIT provided the department with pertaining to this request. Ms. Kennedy explained that OIT has provided input regarding the centralization of the system, and what technology upgrades are necessary to achieve that goal.

11:30:28 AM

Treasurer Young gave
an overview of the department's R-03 budget request. Mr. Schiebe
then proceeded to explain the breakdown of what the request is going to
be used for, and why it is necessary according to the department. Mr.
Schiebe then went over the department's responses to the staff questions
that were submitted.

11:34:16 AM

Treasurer Young explained
the process by which the department's investment officers monitor the state's
cash flow.

11:37:56 AM

Members of the committee inquired about some of the expenses included in the request.

11:55:40 AM	Motion	Recommend JBC approval of 2021-22 S-03 Supplemental Budget Request and R-03
	Moved	Bridges
	Seconded

	Baisley	Yes
	Bernett	Yes
	Kolker	Yes
	Priola	Yes
	Bridges	Yes
	Titone	Yes
	Final	YES: 6 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS

FY 2022-23 Dept. of Treasury R-03 Operating Budget Request: Departmental Technology - Recommend JBC approval of FY2021-22 S-03 Supplemental Budget Request and FY2022-23 R-03 Operating Budget Request

Colorado General Assembly