So we are more or less on target. But the target reflected a tighter budget than we saw last year. Of course, there are three more quarters to go in this year and that is plenty of time for external events, such as the Israel-Gaza War, developments in the Ukraine War, and who-knows-what to occur.
The good news is the incredibly large ($90+ billion at the end of September) level of unused borrowable resources the state has built up which provides a cushion against adverse developments.
The September data are at https://sco.ca.gov/Files-ARD/CASH/September2023StatementofGeneralFundCashReceiptsandDisbursements.pdf.
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