In case anyone’s keeping tabs, the new fiscal year for the state begins just 10 days from today. And a budget deal remains elusive, tied up largely over issues ranging from debt repayment to state subsidized health care for children.

Usually at this time of year, Capitol reporters pull out their most comfortable shoes and take watch in the hallway outside the governor’s office for sign of a deal.

There, behind those massive doors, is where state budgets have been hammered out in recent times. The governor and the four leaders of the Legislature have been nicknamed the “Big Five” as they convene for these top-level, closed door negotiations.

But this year, the first floor Capitol hallway has been pretty quiet. In fact, the process of reconciling differences over the 2006-07 budget is largely being carried out by the four legislative leaders sans Governor Schwarzenegger.

The reasons why aren’t so clear. Schwarzenegger staffers are clearly engaged on the issue. But the same dynamic– legislators on their own– is what sealed the deal on the $37 billion infrastructure bond package.

Schwarzenegger has apparently not been a fan of the “Big Five” approach, which was originally a high-level budget meeting that took shape under former Governor George Deukmejian. In recent years, it’s been used for all kinds of large issues where policy and politics become entangled.

“I have never reached any kind of an agreement or have accomplished anything in a Big Five meeting,” Schwarzenegger said in response to a question from a reporter on June 21, 2005. “I think they are a lot of times photo-ops, and people are positioning themselves, and it becomes very adversarial, the atmosphere there.”

And so today, as the four legislative leaders meet (we’re all still struggling what to call that group: “Gang of Four?”… “Little Four?”), the governor is in Hemet talking about the upcoming fire season, and later in Fresno speaking to the American Legion.