Pueblo County adopts general fund reserve policy to rebuild savings after Aspen Acres costs

Pueblo County commissioners voted Sept. 3 to adopt a general fund balance and financial stabilization policy meant to rebuild county savings and protect services from future emergencies. The resolution establishes a separate reserve distinct from TABOR’s 3% requirement, requires the board to adopt a restoration plan within 120 days and sets multi-year milestones to reach a 10% floor by 2031 and the policy’s 16.67% target by 2034.

County presenter Robert Choi said the policy is designed to make the county less vulnerable to one-time shocks such as the Aspen Acres Fire, which he said has already produced “more than 291,000 in direct response and recovery costs so far” and additional staff and indirect costs. Choi explained the policy’s framework: “the county keeps a savings reserve inside the general fund … the board may spend from it only in a true emergency, by public resolution, and whatever the board spends must be restored on a set schedule.” Commissioners and staff also discussed temporary financing: county staff said planned COPs (certificates of participation) issuance would reimburse 2025 overages and create a head start for the reserve rebuild, while acknowledging COPs are debt, not revenue.

Commissioner Miles Lucero translated the policy’s targets into local dollar amounts during the discussion, saying that if the county’s 2026 general fund operating base is about $150,000,000, reaching a 10% emergency floor amounts to roughly $15,000,000 and a 16.67% target to about $25,000,000. The board approved the resolution by unanimous voice vote.