Seasonal streamflow forecast bias, changes in climate, snowpack, and land cover, and the effects of these changes on relations between basin‐wide snowpack, SNOw TELemetry (SNOTEL) station snowpack, and seasonal streamflow were evaluated in the headwaters of the Rio Grande, Colorado. Results indicate that shifts in the seasonality of precipitation and changing climatology are consistent with periods of overprediction and underprediction in streamflow forecasts. Multiple linear regression of SNOTEL data, postcedent precipitation, and land‐cover changes explained 2%–18% more variability in streamflow prediction than using SNOTEL station data alone. Simulated basin‐wide snowpack from a physically based model had significant negative trends [...]