09.09.10: Good News
By David Walrath
SACRAMENTO – State Controller John Chiang today released his monthly report covering California’s cash balance, receipts and disbursements in August. The month brought welcome news for California’s ability to continue to meet its payment obligations in the near term, with revenues rising above the Governor’s May Revision estimates by $264.6 million, or 3.9 percent.
Total disbursements for the fiscal year were also running behind projections. After adjusting the Governor’s May Revision to reflect the absence of a spending plan in July and August, disbursements through August 31 were $1.2 billion below estimates.
