Arrowleaf Sweet Coltsfoot
Petasites frigidus var. sagittatus (Petasites sagittatus)

Family: Sunflower (Asteraceae)
AKA: Arctic Sweet Coltsfoot, Arctic Butterbur
Photo taken on: July 17, 2017
Location: Almont Resort, GV, CO
Life Zones: Plains to montane
Habitat: Wet to moist areas, pond edges, stream banks

Grows with large arrow-shaped basal leaves on long stalks. Leaves are up to 12" long, toothed and are white-woolly underneath. Flowers are white to pinkish, have a sweet scent and are about ½" across. They grow in a cluster 3-4" across. Seed heads are fluffy white clusters of silky seeds.

The fleshy flower stalk grows to 8" high and blooms before the leaves.  I observed the leaves and, before I had identified them, a good friend and I returned many times waiting for a bloom. I borrowed the images below until I see them for myself.

Flora of North America reference.

Photo credit for images below.