Venture Capital Authority Colorado Open Records Act (CORA) Policy

As provided in § 24-46-202(1)(a), C.R.S., the VCA is a body corporate, a political subdivision of the state, and a public instrumentality of the State of Colorado. As a political subdivision, the VCA is subject to the Colorado Open Records Act (“CORA”) (§§ 24-72-201 to 206, C.R.S.). This policy helps to ensure the VCA complies in all respects with CORA and meets all constitutional and statutory duties to the people of Colorado in an orderly and expeditious manner. This policy is not intended to be duplicative of CORA or supersede state law.

This policy applies to the VCA only. This policy applies solely to records requests where the VCA is the custodian of public records pursuant to CORA. Other state agencies may have different CORA policies.

Submitting a CORA Request and Timelines

The VCA will only accept records requests made in writing via e-mail sent to the VCA at VCA@state.co.us. Records requests or requesters that cite the federal Freedom of Information Act will be treated as though they were made solely pursuant to the Colorado Open Records Act.

When responding to a records request, the VCA shall make every effort to respond within three working days as required by § 24-72-203(3)(b), C.R.S. The VCA can issue up to a seven-working-day extension if it finds extenuating circumstances exist, as described in § 24-72-203(3)(b), C.R.S. The three working-day response time begins the first working day following receipt of the request. A request received after 12 p.m. or any day Colorado State offices are officially closed will be considered received as of the following working day.

The VCA will pause the statutory timeline for responding to a CORA request when waiting for the requester to provide clarification, approve a cost estimate for compliance costs, or provide payment for such costs. A request will be considered closed on the 10th business day after receiving no communication or no required payment from the requester.

When the VCA receives multiple CORA requests from the same requester, these requests will be processed one at a time.

Office Procedure for Handling Records Requests

The VCA staff will respond to and manage all CORA requests; the three working-day response time begins the first working day following the day that the request is received.

Copies of all records requests made of the VCA shall be immediately provided to the Chair of the VCA Board.

If the public records requested are not in the custody or control of the VCA, the VCA will forthwith notify the applicant of this fact, in writing pursuant to C.R.S. 24-72-203(2)(a). If the record requested is in the custody and control of the VCA but is either not a “public record” or is not open to inspection under Colorado law, the VCA shall notify the requestor no later than three working days after the request is made.

The VCA may not modify, redact or omit any records in response to an open records request pursuant to this policy, unless instructed to do so by legal counsel.

C.R.S. 24-72-204 (3)(a)(IV) requires that the record holder deny the right of inspection of documents that contain trade secrets, privileged information, and confidential commercial and financial information. In its normal course of business the VCA holds records of venture fund partnerships and portfolio company information. Generally, these records will not be provided for inspection due to the fact that they contain privileged information, and/or confidential commercial and financial information.

Any records marked “confidential” and confirmed to be confidential by VCA Board or staff will be withheld. If the requester challenges the confidential nature of the record, the VCA may consult legal counsel for justification of the basis for a claim of confidentiality.

When records deemed responsive to a CORA request originated from an external party, the VCA will notify the original document custodians of the CORA request and will notify the originating party of documents that the VCA plans to provide.

Provisions of Responsive Documents

The VCA will transmit digital records digitally, pursuant to C.R.S. 24.72.203(3.5)(a)(III), unless otherwise requested by the requester. The VCA will not create new databases or manipulate records or the format in which records are stored to comply with a records request.

When responsive records cannot be easily or cost-effectively provided electronically to a requester, the VCA will work with the requester to schedule a time to inspect the records in person during office hours which are from 9 a.m. to 5 p.m. Monday through Friday. The VCA may grant exceptions where the VCA, requesters, or the nature of the records produced require special accommodation.

The original submitter of the records shall indemnify the VCA, the VCA Board, the Colorado Office of Economic Development and their affiliates (including, but not limited to, the State of Colorado and all of its agencies, employees, departments, and political subdivisions) for all out-of-pocket fees, expenses, losses, damages and costs that they or their affiliates incur in connection with the original submitter’s specific request for confidentiality, including but not limited to amounts under Sections 24-72-204(5) and (6) and otherwise under the Colorado Open Records Act.

Fees for Document Retrieval, Review, Copies and Release of Records

When a substantial request is made requiring the use of more than one hour of staff time to research, retrieve, review, locate, compile or produce records, the VCA will charge the requester for all copying expenses and reasonable, actual costs associated with cumulative staff time in accordance with § 24-72-205(5)(a), C.R.S. and applicable law.

When researching, retrieving, reviewing, locating, compiling and producing records consumes more than one hour of staff time, work by multiple staff members will be aggregated and the VCA will charge $41.37 per hour for all staff time after the first hour and will charge $0.25 per page for all documents produced in a paper format in response to a CORA request, as such amounts may be adjusted by law.

The VCA is a political subdivision of the state and relies on the use of outside legal counsel; if the request involves documents that are not clearly considered public documents, the VCA will request the advice of outside legal counsel for an opinion on the public nature of those documents.

For requests where more than one hour of staff time will be consumed, the VCA will provide a requester with advance notice and an estimate of compliance costs. For requests that include compliance costs, the VCA will begin work only after receiving approval for a cost estimate. The statutory timeline will be paused when waiting for approval of a cost estimate. Once records have been located, compiled and reviewed, such costs must be paid in full before the production of records unless alternative arrangements have been made. When fees remain unpaid for two or more previous CORA requests from the same requester, the VCA will require payment up front before processing a new request. The statutory timeline will be paused when waiting for receipt of payment.

Any costs charged to a requester shall not exceed the actual cost of producing the records, in accordance with § 24-72-205(5)(a), C.R.S., and applicable law.

The Format of Records Produced

The Colorado Open Records Act requires that all public records must be open for inspection by any person at reasonable times, except as provided in CORA or as otherwise specifically provided by law (§ 24-72-201, C.R.S.). CORA does not guarantee access to public records in a specific format. When the production or review of records in a specific format would interfere with the regular discharge of duties of VCA staff (§ 24-72-203(1)(a), C.R.S.) or levy an undue burden upon the VCA, legal counsel will determine the appropriate format for the records to be produced.

The VCA may require that members of the public or press only be allowed to review copies of documents when the custodian of records determines that allowing access to originals could interfere with the regular discharge of duties of the VCA or OEDIT when serving as staff to VCA, or production of original records could jeopardize the condition of the records.

Last Updated: November 25, 2025