Last Friday, State Controller John Chiang announced that the state’s cash position for the remainder of the current fiscal year will be weak from approximately March 30 through April 21.
The controller estimates the state will drop below its minimum cash balance on March 30 and by April 1, will be in the red by $197 million.
The controller recommends $2.7 billion in cash solutions, which is necessary to avoid a cash shortage in the current fiscal year.
Read the controller’s letter here and view his cash flow chart here.
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