Public Works Fiscal Responsibility Accounting Act of 1981

C.R.S. tit. 24, art. 16
in effect

C.R.S. § 24-16-101 Short title

24-16-101. Short title. This article shall be known and may be cited as the "Public Works Fiscal Responsibility Accounting Act of 1981".

C.R.S. § 24-16-102 Legislative declaration

24-16-102. Legislative declaration. The general assembly hereby finds, determines, and declares that there is a present need for information concerning the true cost of government public work projects which are performed in whole or in part by employees of or use of equipment, machinery, or materials owned by the state of Colorado.

C.R.S. § 24-16-103 Definitions

24-16-103. Definitions. As used in this article, unless the context otherwise requires: (1) "Agency of government" means any state agency, department, division, board, bureau, commission, institution, or section which is a budgetary unit exercising purchasing authority or discretion. (2) "Contract" means any agreement for public works for a fixed or determinable amount duly awarded after advertisement and competitive bid. (3) "Cost" means the total cost of labor, materials, provisions, supplies, equipment rentals, equipment purchases, insurance, supervision, engineering, clerical and accounting services, the value of the use of equipment, including depreciation, owned by an agency of government, and reasonable estimates of other administrative costs not otherwise directly attributable to the project which may be reasonably apportioned to such project in accordance with generally accepted cost accounting principles and standards. (4) "Generally accepted cost accounting principles and standards" means those accounting principles and standards promulgated by the cost accounting standards board of the American institute of certified public accountants which pertain to contractors engaged in the performance of government contracts. (5) "Project" means any public work for which appropriation or expenditure of funds may be reasonably expected to exceed twenty-five thousand dollars in the aggregate for any fiscal year. (6) "Public work" means any construction, alteration, repair, or improvement of any land, building, structure, facility, road, highway, or other public improvement suitable for and intended for use in the promotion of the public health, welfare, or safety or maintenance programs for the upkeep of public roads, highways, or bridge structures; except that "public works" does not include routine maintenance that is not definable by a stop or start time or by geographical limits. (7) "Responsible agency of government" means the agency of government which has fiscal accountability for a project. (8) "Responsible official" means the person having overall responsibility, including delegated authority, for keeping the accounting records of the responsible agency of government.

C.R.S. § 24-16-104 Prohibition of division of works of public improvement construction

24-16-104. Prohibition of division of works of public improvement construction. It is unlawful for any person to divide a works of public improvement construction into two or more separate projects for the sole purpose of evading or attempting to evade the requirements of this article.

C.R.S. § 24-16-105 Account and record of costs

24-16-105. Account and record of costs. Whenever an agency of government undertakes any public work project by any means or method other than by contract, it shall cause to be kept and preserved a full, true, and accurate record of the cost of such project. Such records shall be kept and maintained by a responsible official on behalf of the responsible agency of government. To the extent the responsible agency of government contracts with any other agency of government in connection with a project, such other agency shall provide all necessary data or information to enable the responsible agency of government to document a full, true, and accurate record of the cost of such project, which data or information shall be kept in an orderly manner by the responsible agency of government for a period of at least six years after completion of the project. All such records shall be considered public records and shall be made available for public inspection.

C.R.S. § 24-16-106 Rules and regulations

24-16-106. Rules and regulations. On or after July 1, 1981, but before January 1, 1982, the department of personnel shall promulgate rules and regulations which are designed to implement the provisions of this article. In promulgating such rules and regulations, the controller may seek the advice of the advisory committee on governmental accounting appointed pursuant to section 29-1-503, C.R.S., but the advice of such committee shall not be binding upon the controller. He shall at all times be concerned with the promulgation and implementation of rules and regulations concerning the obligation of agencies of government to keep certain project records, even if duplicative, in accordance with generally accepted cost accounting principles and standards. Upon request of local government officials, the department of personnel may assist local government officials in implementing cost accounting procedures.

C.R.S. § 24-16-107 Audit

24-16-107. Audit. If any agency of government is alleged to be in violation of or in material noncompliance with this article 16 or the rules promulgated by the office of the state controller, the legislative audit committee must be advised, in writing, of the activities alleged to be in violation or noncompliance. The legislative audit committee shall give notice to the agency, which shall have ten days to respond to such allegation. If the said committee thereafter determines that there is a reasonable probability of a violation or material noncompliance, the committee shall take appropriate action and may direct the state auditor to conduct an audit and review of the records being kept by such agency. If the state auditor determines that the agency has violated or has not complied or is not complying with this article 16 or the rules, a written report shall be issued to the agency detailing the areas of violation or noncompliance and curative recommendations. The agency shall implement the recommendations of the state auditor within a time period set by the state auditor not to exceed six months.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-24.docxFetched: 10/6/2026

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