California's cash flow crisis: May 2009 update
Legislative Analyst's Office, 2009 - Business & Economics - 24 pages
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$13 billion address the state's amounts in borrowable attached to federal bond market borrow for cash borrowable special funds budget to balance California's cash flow cash crisis Cash Crunch cash flow borrowing cash flow challenges cash flow crisis cash flow deficits cash flow forecast cash flow outlook cash flow pressures cash flow problems cash flow purposes cash flow situation Controller was able Controller's difficult choices disbursements DOF forecast DOF's March February budget package federal assistance federal guarantee federal stimulus funds Figure fiscal flow borrowing need issuance July June 30 legislative actions long-term infrastructure bonds March 31 March Cash Forecast monthly cash flow months payment delays payments to schools priority payments private investors Proposition 1C RANs or RAWs recommend reduce the state's Returning the Budget revenues or decrease Short-Term Borrowing Need short-term credit markets state's cash cushion state's cash flow Strings Attached trigger legislation upcoming budget deliberations year-end cash cushion York City