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S_FIN_2016A 01/05/2017 01:37:01 PM Committee Summary

Final

STAFF SUMMARY OF MEETING



COMMITTEE ON JOINT FINANCE

Date: 01/05/2017
ATTENDANCE
Time: 01:37 PM to 05:23 PM
Becker K.
E
Conti
E
Place: RM 271
Foote
*
Garnett
E
This Meeting was called to order by
Hill
E
Senator Neville T.
Holbert
E
Johnston
E
This Report was prepared by
Kagan
E
Katie Ruedebusch
Kerr
X
Pabon
E
Roupe
E
Sias
E
Van Winkle
X
Wilson
E
Court
X
Neville T.
X
X = Present, E = Excused, A = Absent, * = Present after roll call
Bills Addressed: Action Taken:
Office of the State Auditor

Colorado Department of Revenue

Public Employees' Retirement Association

Department of Treasury

Human Resources Information System Update
Witness Testimony and/or Committee Discussion Only

Witness Testimony and/or Committee Discussion Only

Witness Testimony and/or Committee Discussion Only

Witness Testimony and/or Committee Discussion Only

Witness Testimony and/or Committee Discussion Only





01:38 PM -- Office of the State Auditor



The committee was called to order. Mr. Matt Devlin, representing the Office of the State Auditor (OSA), came to the table to discuss the OSA FY 2016 Annual Report and the status of outstanding audit recommendations. He discussed the functions of the Office of the State Auditor.



01:40 PM



Ms. Cindi Radke, also representing the OSA, came to the table to highlight specific sections of the annual report. She noted that 96 percent of audit recommendations over a five-year period have been implemented to date. She stated that there is one outstanding audit recommendation for the Colorado Department of Revenue (DOR). She noted that the recommendation is outstanding for over 50 months. In response to a committee question, Mr. Devlin discussed how OSA gains departmental compliance with outstanding recommendations.





















01:49 PM -- Colorado Department of Revenue



Executive Director Barbara Brohl, representing the Colorado Department of Revenue, came to the table to discuss the department. She distributed a handout to the committee (Attachment A). She highlighted DOR's organizational structure and gave a general overview of the department. She also updated the committee on the Colorado Driver License, Record, Identification, and Vehicle Enterprise Solution (DRIVES) project.



Attachment A can be viewed at Legislative Council.



01:57 PM



Mr. Mike Dixon, representing DOR, came to the table to discuss the Division of Motor Vehicles (DMV). He highlighted the new waitless system in county DMV offices. He highlighted several other DMV customer service improvements. In response to a committee question, Mr. Dixon and Director Brohl discussed how the DMV plans to address the growth in the state's aging population.





02:12 PM



In response to a question, Director Brohl discussed the funding and program goals of Senate Bill 13-251 licenses. She noted the interplay between state and county funding. Mr. Dixon responded to a committee question regarding funding for the DRIVES program. Director Brohl also highlighted the costs savings associated with the new DRIVES system.





02:27 PM



Ms. Laura Solano, representing DOR, came to the table to discuss the Colorado Lottery. She discussed the current status of the lottery and the division's business goals. She responded to a committee question regarding distribution of lottery moneys in Colorado.





02:37 PM



Mr. Ron Kammerzell, representing DOR, came to the table to discuss the enforcement division. He highlighted medical and retail marijuana enforcement, along with liquor enforcement. He responded to committee questions about the new universal edible label. He also highlighted the division's response to Senate Bill 16-197.





02:54 PM



Mr. John Vecchiarelli, representing DOR, came to the table to discuss the Taxation Fraud Detection project. He addressed several questions regarding fraud and electronic filing.

























03:10 PM



Ms. Heidi Humphreys, representing DOR, came to the to discuss the department's LEAN process and improvement initiatives. Director Brohl continued by discussing upcoming decision items and legislative initiatives.



03:24 PM



Director Brohl continued by discussing the department's Performance Plan with the assistance of Mr. Vecchiarelli, Mr. Dixon, Ms. Solano, and Mr. Kammerzell.





03:48 PM -- Public Employees' Retirement Association



Director Gregory Smith, representing the Colorado Public Employees' Retirement Association (PERA), presented about the performance of PERA during the last fiscal year. He distributed a presentation to the committee (Attachment B). He also distributed PERA's Comprehensive Annual Financial Report to the committee (Attachment C). Director Smith walked the committee through Attachment B.



Attachment B can be viewed at Legislative Council



Attachment C can be viewed at Legislative Council



04:10 PM



Mr. Smith addressed questions from the committee about the percentage rate of employer matching contributions and how the future rate of return on investment is determined.





04:32 PM



Mr. Smith continued to address committee questions about his presentation, including questions about the current unfunded liability of PERA and the anticipated amortization period for the different PERA divisions.





04:40 PM



Committee discussion continued with Mr. Smith.



04:45 PM -- Mr. Joshua Sharf, representing the Independence Institute, came to the table to discuss PERA. He distributed a chart illustrating the variations in the possible rates of return over a 40-year-period (Attachment D). He also responded to committee comments.



17JointFin0105AttachD.pdf17JointFin0105AttachD.pdf

















05:00 PM -- Department of Treasury



Mr. Jon Forbes, Deputy State Treasurer, discussed the role of the Treasurer's Office and discussed the office's FY 2016-17 performance plan. Committee members received a copy of the performance plan (Attachment E). Mr Forbes' spoke about the performance of the office's investment portfolio, legislative changes made during the 2016 legislative session, and updates to the office website made to increase transparency. Mr. Forbes next discussed a new software program that is being implemented by the Unclaimed Property Division.



17JointFin0105AttachE.pdf17JointFin0105AttachE.pdf



05:09 PM



Mr. Forbes responded to questions about the state's credit rating and its outstanding debt obligations. He said that in the past creditors have had concerns with how easy it is to amend the state constitution. He said that creditors have also expressed concerns about the state's unfunded pension liability. Discussion returned to the Unclaimed Property Division.





05:13 PM -- Human Resources Information System Update



Ms. June Taylor, Executive Director of the Department of Personnel and Administration, and Ms. Suma Nallapati, Secretary of Technology and Chief Information Officer, Governor's Office of Information Technology, presented an update about the implementation of the Human Resources Information System (HRIS). Committee members received a HRIS status update (Attachment F). Ms. Nallapati responded to questions from the committee about the vendor selection process. Director Taylor also commented on the vendor selection process for HRIS and other information technology projects. In response to a question, Director Taylor said that there will not be a procurement module included in the HRIS.



17JointFin0105AttachF.pdf17JointFin0105AttachF.pdf



05:23 PM



The committee adjourned.


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