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Jul 11, 2011 7:06 PM by John Romero

CO financial computer system has risk of failure

DENVER (AP) - State officials say the computer system that is the backbone of Colorado's financial workings is outdated and could trigger a failure that would prevent critical governmental transactions.

A report released Monday says the failure of the Colorado Financial Reporting System would paralyze the state's ability to process checks to vendors that provide services to the state and make it impossible to know Colorado's true financial position.

The evaluation from the state's Auditor's Office says the computer is at risk of failure because it's based on obsolete technology and programming code from 20 years ago that few people now how to use.

The evaluation recommends that the state keep employees with knowledge of the system and work with lawmakers to get funding to modernize it in the coming years.

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