Colorado § 24-105-302 - Fiscal responsibility.
Full text of Colorado Colorado Revised Statutes § 24-105-302 — Fiscal responsibility., with citation guidance and answers to common questions.
§ 24-105-302. Fiscal responsibility.
Every contract modification or contract price adjustment under a construction contract with the state in excess of an amount specified in the contract shall be subject to prior written certification by the controller or other official responsible for monitoring and reporting upon the status of the costs of the total project or contract budget as to the effect of the contract modification or adjustment in contract price on the total project or contract budget. In the event that the certification of the controller or other responsible official discloses a resulting increase in the total project or contract budget, the procurement agent shall not execute or make such contract modification or adjustment in contract price unless sufficient funds are available therefor or the scope of the project or contract is adjusted so as to permit the degree of completion that is feasible within the total project or contract budget as it existed prior to the contract modification or adjustment in contract price under consideration; except that, with respect to the validity of any executed contract modification or adjustment in contract price which the contractor has reasonably relied upon, it shall be presumed that there has been compliance with the provisions of this section.
Source: L. 81: Entire article added, p. 1275, § 1, effective January 1, 1982. L. 2017: Entire section amended, (HB 17-1051), ch. 99, p. 330, § 36, effective August 9.
ARTICLE 106
Modification and Termination of Contracts
24-106-101. Contract clauses - price adjustments - additional clauses - modification.
24-106-102. Supplementary general principles of law applicable.
24-106-103. Centralized contract management system - personal services contracts - legislative declaration - definitions.
24-106-104. Types of contracts.
24-106-105. Multiyear contracts.
24-106-106. Right to audit records.
24-106-107. Monitoring of vendor performance - definitions.
24-106-108. Administrative rules - cost reimbursement.
24-106-109. Terms and conditions in contracts.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-105-302
What does Colorado Revised Statutes § 24-105-302 cover?
Section 24-105-302 ("Fiscal responsibility.") 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 § 24-105-302?
A common citation format is "Colorado Revised Statutes § 24-105-302" (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 § 24-105-302 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.