Colorado § 22-44-115.5 - Fiscal emergency - effect on budget.
Full text of Colorado Colorado Revised Statutes § 22-44-115.5 — Fiscal emergency - effect on budget., with citation guidance and answers to common questions.
§ 22-44-115.5. Fiscal emergency - effect on budget.
(1) During any budget year, if the board of education of the school district determines that the anticipated revenues specified in the budget and the amounts appropriated in the budget for expenditure exceed the actual revenues available to the school district due, in whole or in part, to action by the general assembly or the governor relating to the state appropriation for the district's total program pursuant to article 54 of this title, the board may declare a fiscal emergency in such budget year. A declaration of fiscal emergency may only occur upon an affirmative vote of two-thirds of the members of the board at a public meeting. Prior to any vote taken pursuant to this subsection (1), the board of education shall hold at least one public hearing within the district after full and timely notice to the public.
(2) If a fiscal emergency is declared by the board of education pursuant to subsection (1) of this section, the board may implement a reduction in salaries for all employees of the school district on a proportional basis or may alter the work year of such employees. Such reduction in salaries may be made notwithstanding the provisions of section 22-63-401 (3).
Source: L. 92: Entire section added, p. 541, § 15, effective May 28. L. 94: (1) amended, p. 818, § 38, effective April 27.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 22-44-115.5
What does Colorado Revised Statutes § 22-44-115.5 cover?
Section 22-44-115.5 ("Fiscal emergency - effect on budget.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 22-44-115.5?
A common citation format is "Colorado Revised Statutes § 22-44-115.5" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 22-44-115.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.