Under current statute, unspent Senior Homestead funds are transferred to the Senior Services Account within the Older Coloradans Cash Fund (OCCF) for the purpose of providing direct services to older Coloradans through the state’s network of 16 Area Agencies on Aging (AAAs). The Senior Homestead Exemption allocation was over-estimated by $14.9 million for FY 2017-18 and $16 million in FY 2018-19. This substantial excess of Senior Homestead funds is unprecedented. However, it presents an opportunity for the state to invest in activities to help prepare the state for the aging of its population.
Between 2000 and 2030, the number of Coloradans aged 65 and older will have gone from 555,000 to 1.3 million. Recognizing this reality, the state’s AAAs have worked to expand their capacity to meet the growing demands for services in their regions.
AARP, like many others throughout our state, want to ensure unspent funds from Senior Homestead go toward helping older adults in our Colorado communities who need it the most. Transferring the funds to AAA will ensure that those in need receive services designed and meant for older adults.
Email the governor and the members of the Joint Budget Committee now to let them know you strongly support allocating the full amount of the unspent Senior Homestead funds in the Older Coloradans Cash fund. Tell them how community services for older adults are important to you.
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Dear [Decision Maker],
I want to ensure unspent funds from Senior Homestead Act go toward helping older adults in our Colorado communities who need it the most. Transferring the funds to AAA will ensure that those in need receive services designed and meant for older adults.
Sincerely,[Your Name] [Your Address] [City, State ZIP]