Financial Operations & Reporting

Central Accounting and Vendor Operations

Central Accounting and Vendor Operations (CAVO) provides a variety of centralized professional and technical services and assistance for State departments including: federal tax reporting, warrant and electronic funds transfer (EFT) control, disbursement and escheatment management, PERA reporting for retirees working as independent contractors, Vendor/Customer modification and maintenance, vendor intercept table management, and IRS tax levy processing. CAVO is the business process owner for these unit functions in CORE. CAVO also manages Vendor Self Service (VSS) certifications and updates to the Vendor/Customer tables in CORE for external State vendors. The unit recommends and implements statewide accounting policies and procedures per best business practices, rules, and standards and analyzes business issues and options as well as provides training.

Please contact state_centralapproval@state.co.us with any questions related to vendors, payments issued out of CORE, or federal tax reporting.

Central Payroll Services

Central Payroll provides professional and technical guidance to Payroll, Human Resources and Benefits personnel in agencies. Processes payroll and distributes employees' earnings correctly and timely. Sets statewide payroll policies Collects deductions from each employee required by law including taxes, PERA, and garnishments and voluntary deductions such as medical insurance, 401K, and 457. Distributes payments to federal and state agencies, courts, and other vendors. Reconciles overall payroll.

Financial Services Unit

The Financial Services Unit acts as liaison between the State Controller and operating agencies to oversee the financial affairs of Colorado state government. Provides professional and technical assistance to agencies regarding the interpretation of statutes, fiscal rules, and other accounting authoritative guidelines. Approves certain accounting transactions.

Commercial Card

The State Commercial Card Services Contract provides commercial purchase cards, travel cards, and other types of integrated credit card services, such as OneCards and ePayables, to State Agencies, State Institutions of Higher Education, Community Colleges, Local Governments and other governmental entities. The key benefits of this program include reduced financial risks and increased liability coverage, enhanced program monitoring and compliance tools, increased rebate revenues based on aggregate program spend, ability to select the card type(s) that will work best for your entity, cost savings and free training and conferences.


Reporting provides financial information for the citizen, legislator, and government manager. Produces monthly, quarterly and annual reports such as, the Annual Financial Report, monthly revenue summaries, quarterly financial reports, Schedule of TABOR Computations, and other statutory and ad hoc reports.

Indirect Cost Plans

Indirect Cost Plans prepare the federal statewide indirect cost allocation plan and coordinates indirect cost negotiations with the federal government. Prepares the statewide budget/cash indirect cost allocation plan and provides support for the Joint Budget Committee in explaining and defending allocations. Reviews agency federal indirect cost rate proposals requested by agencies. Provides technical assistance and training to agencies related to cost accounting matters and assists agencies in developing and implementing cost identification and allocation systems.

Statewide Internal Audit

Statewide Internal Audit provides the State Controller the ability to conduct audits of all state agencies to assure compliance with statutes, fiscal rules, and generally accepted accounting principles.