Of course, there is no sign of a downturn currently,
despite the turmoil about tariffs and such. And the state has access not only
to its official general fund reserves - including the governor's rainy day fund - but also to cash sitting in other accounts of the state outside the general fund. So-called
unused borrowable reserves are close to $40 billion, which is a significant
cushion.
You can find the controller's report at:
https://www.sco.ca.gov/Files-ARD/CASH/June_2018_Statement_of_General_Fund_Cash_Receipts_and_Disbursements.pdf. (Look at the tables on the "B" pages for comparisons with last year's budget projections.)
https://www.sco.ca.gov/Files-ARD/CASH/June_2018_Statement_of_General_Fund_Cash_Receipts_and_Disbursements.pdf. (Look at the tables on the "B" pages for comparisons with last year's budget projections.)
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