Colorado Treasurer Cary Kennedy encouraged Coloradans to explore the recently released “State Taxpayer Accountability Report” and familiarize themselves with how the state spends and invests their tax dollars.

“We are working hard to let taxpayers know how their money is being used,” Kennedy said.

The 20-page booklet, the second annual report issued by Kennedy’s office, details the size of the state budget and how Colorado’s spending and saving compared to other states.

For example, the report shows that Colorado ranks 48th out of all the states in terms of Medicaid spending and 49th in terms of funding for the state’s public colleges and universities.

The head of the Joint Budget Committee, state Rep. Bernie Buescher, D-Grand Junction, said the report provides a succinct narrative of the state’s budget compared to the annual Long Bill, which clocks in at more than 800 pages.

The booklet also focuses on how Colorado has one of the lowest severance tax rates in the region, ranking only ahead of Utah.

Kennedy said her office included those figures because of a looming severance-tax increase question heading for the 2008 ballot.

The report is available online at the governor’s or treasurer’s Web sites. A series of the reports also will be available at the downtown branch of the Mesa County Public Library District at 530 Grand Ave.

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E-mail Mike Saccone at msaccone@gjds.com.