Colorado spent more than $45 billion in fiscal year 2022, roughly half of which were federal dollars, according to a recent state audit.

The Office of the State Auditor said that, for the most part, its review found unmodified or “clean” opinions on the financial statements of Colorado’s activities.

“This means that these financial statements are presented fairly, in all material respects, and that the financial position, results of all financial operations, and cash flows are in conformance with generally accepted accounting principles,” according to the audit. 

That said, state auditors found 100 internal control weaknesses over financial reporting, including 40 material weaknesses and 60 significant deficiencies at 18 state departments and higher education institutions.

All told, Colorado spent $21.5 billion in federal funds, a big portion of which went to health care. The audit said the five largest federal spending categories included: 

Medicaid – $8.1 billion

Disaster grants – $1.5 billion

Supplemental Nutrition Assistance Program – $1.5 billion

Research and development – $1.2 billion

Unemployment insurance – $1.1 billion