The Office of the State Auditor could not confirm the accuracy of the State Controller's Fiscal Year 2026 Taxpayer's Bill of Rights (TABOR) Financial Report, according to a performance audit released in Denver. Auditors found the State Controller did not have enough documentation or explanations to show it followed applicable laws when preparing the report.

The State Controller reissued the report on September 8, 2026. That came after auditors found errors in the September 1, 2026 certification.

In the reissued report, the State Controller said there would be no TABOR refund for Fiscal Year 2026. It said the State's Fiscal Year 2026 revenue is under the TABOR excess revenues cap by $275 million. Auditors could not verify that figure or other key calculations during the audit.

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Audit Manager Maya Rosochacova said, "Due to these problems, we could not conclude regarding the accuracy of the State Controller's TABOR reporting."

The audit also found that the State Controller had turnover in staff who worked on the TABOR report in the past. It also lacked enough supervisory reviews and training for Fiscal Year 2026 to ensure TABOR reporting was accurate.

The State Auditor made four recommendations to the State Controller. They aim to help the office meet state requirements and make sure its annual TABOR Financial Report is accurate, complete and timely.

TABOR was added to the Colorado Constitution in November 1992. It limits how much state government revenue can grow each year. The limit is the inflation rate plus the percentage change in the State's population. This is called the TABOR growth rate. Any money the State raises above that amount must be returned to taxpayers.

The State Controller must certify TABOR revenue to the Governor, the General Assembly and the Executive Director of the Department of Revenue by September 1 of each year. State law requires the Office of the State Auditor to audit that report by September 15 each year. The audit checks whether the State Controller followed TABOR requirements.

The required performance audit is complete. However, the office's annual financial audit is still ongoing. It will check whether the State Controller corrects the errors it reported in September.

The State Controller is expected to include final, revised TABOR figures in the audited Schedule of TABOR Revenue and Computations. That schedule will be part of the State's Fiscal Year 2026 Annual Comprehensive Financial Report. The report is expected to be issued in December 2026.

The Office of the State Auditor is led by State Auditor Kerri L. Hunter. Its nonpartisan staff conducts independent audits of state departments, agencies and other public bodies.

The full performance audit report, titled Schedule of TABOR Revenue Fiscal Year 2026, is available at http://content.leg.colorado.gov/audits under Recently Released Audits.