PRESS RELEASE
December 7, 2004Colorado Economic Futures Panel to tackle state's fiscal woes
University of Denver convenes task force to help Colorado “pull through”
The University of Denver has established the Colorado Economic Futures Panel to analyze the state’s difficult fiscal situation and provide a platform for informed discussion and possible solutions, Chancellor Daniel L. Ritchie announced today. The University agreed to convene the non-partisan task force after discussions last summer with business and civicleaders about Colorado’s plight.
Over the next several months, the panel will undertake a comprehensive examination of the state’s fiscal structure, including major state functions and agencies, local government, education, and the judicial system. The University has set aside $200,000 to fund the initiative through spring 2005. The second, yearlong phase, which depends on successful fundraising, is intended to stabilize the state’s financial situation and improve its long-term fiscal viability.
Our panel members recognize that in the upcoming legislative session the General Assembly, governor and other public officials will need to make difficult decisions in order to keep essential services functioning— Chair Jim Griesemer
“The future of Colorado depends on our ability to develop a comprehensive view of the problems and to engage citizens in solving them,” Ritchie said. “As an independent institution, the University of Denver is uniquely able to contribute to the public good by making this critical investment and hosting the panel’s work. It is the best possible way to express our commitment to the state, and to our belief that together, we will pull through this difficult time.”
James Griesemer, professor and dean emeritus of DU’s Daniels College of Business, will chair the panel, which includes 16 accomplished citizens from a variety of professional backgrounds. With more than 20 years of public-sector executive experience and 15 years in higher education, Griesemer was the University’s chief financial officer during its financial turnaround in the early 1990s. Robert Tointon, president of Phelps-Tointon Inc., will serve as vice-chair. Charles S. Brown, former executive director of the respected, non-partisan State of Colorado Legislative Council, will lead the staff of researchers and analysts who will support the panel’s work.
In recent weeks Griesemer, Brown and Ritchie have consulted a variety of elected and appointed officials, including Gov. Bill Owens, State Treasurer Mike Coffman, and leaders of government and quasi-government agencies to gain their support.
“Our panel members recognize that in the upcoming legislative session the General Assembly, governor and other public officials will need to make difficult decisions in order to keep essential services functioning,” Griesemer said. “We do not intend to critique those necessary, short-term decisions, and we will not find fault with previous decisions. Rather, we will focus on an understanding of the underlying causes and potential long-term solutions to the critical fiscal issues facing the state.”
Research is already underway to understand Colorado’s economic and fiscal problems in depth. The panel intends to release an initial report by late March or early April. If the second phase of work is undertaken, the panel will aim to release a report in early 2006.