That's the good news. The bad news, if it is that, is that the state seems to be giving less cash to UC than anticipated. The anticipated payment to UC for the first quarter of the fiscal year was projected to be about $1.2 billion. The state has in fact distributed $702 million UC. Maybe some of the gap is the $25 million withheld by the legislature pending a plan by UC to deal with protests. Presumably, however, that withholding would have been incorporated into the projection and, in any case, it doesn't come close to explaining the gap. Given the amount of cash the state has, it seems unlikely to be the result of illiquidity.
That's all I know.
The full cash report is at https://sco.ca.gov/Files-ARD/CASH/September2024StatementofGeneralFundCashReceiptsandDisbursements.pdf.
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