C.R.S. Section 24-16-103

As used in this article, unless the context otherwise requires:


“Agency of government” means any state agency, department, division, board, bureau, commission, institution, or section which is a budgetary unit exercising purchasing authority or discretion.


“Contract” means any agreement for public works for a fixed or determinable amount duly awarded after advertisement and competitive bid.


“Cost” means the total cost of labor, materials, provisions, supplies, equipment rentals, equipment purchases, insurance, supervision, engineering, clerical and accounting services, the value of the use of equipment, including depreciation, owned by an agency of government, and reasonable estimates of other administrative costs not otherwise directly attributable to the project which may be reasonably apportioned to such project in accordance with generally accepted cost accounting principles and standards.


“Generally accepted cost accounting principles and standards” means those accounting principles and standards promulgated by the cost accounting standards board of the American institute of certified public accountants which pertain to contractors engaged in the performance of government contracts.


“Project” means any public work for which appropriation or expenditure of funds may be reasonably expected to exceed twenty-five thousand dollars in the aggregate for any fiscal year.


“Public work” means any construction, alteration, repair, or improvement of any land, building, structure, facility, road, highway, or other public improvement suitable for and intended for use in the promotion of the public health, welfare, or safety or maintenance programs for the upkeep of public roads, highways, or bridge structures; except that “public works” does not include routine maintenance that is not definable by a stop or start time or by geographical limits.


“Responsible agency of government” means the agency of government which has fiscal accountability for a project.


“Responsible official” means the person having overall responsibility, including delegated authority, for keeping the accounting records of the responsible agency of government.

Source: Section 24-16-103 — Definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-24.­pdf (accessed Oct. 20, 2023).

Green check means up to date. Up to date

Current through Fall 2024

§ 24-16-103’s source at colorado​.gov