And now, the rare good news as the 2010 budget impasses continues to slouch toward the top (bottom?) of the record books: the state appears to have enough cash in the bank to avoid sending out IOUs anytime soon. That’s … Continue reading
A budget impasse that lasts beyond Labor Day could lead to another year of California issuing IOUs instead of cash for invoices owed. But, says Controller John Chiang, he’s not issuing a firm deadline to lawmakers this time around.
That’s the stern message delivered today to the Legislature and Governor Schwarzenegger by the state’s chief financial officer in hopes of avoiding a second straight year of too little cash to pay the bills. In a letter to the leaders … Continue reading
July 12, 2007 seemed to be an unremarkable day here in Sacramento. It was a Thursday with a pleasant un-summer-like high temperature of 85 degrees. The budget was almost two weeks late, though that certainly wasn’t surprising. But that day … Continue reading
Summer doesn’t officially end until September 22. But the state’s Summer of Debt — at least from a cash perspective — will end on September 4, according to Controller John Chiang.
It was a busy second day of the new fiscal year at the printing facility tucked inside a quiet business park in a shaded east Sacramento neighborhood. But unlike most days, they weren’t printing thousands of checks paid by the … Continue reading