The last controller's cash statement is available as the legislature looks to pass a budget by June 15th. It covers the first 11 months of the current fiscal year and continues to show a lot of cash on hand. Compared with what was expected last year when the legislature passed the current budget, the state received an extra $10.6 billion in revenue. Even compared with the projections made last month for the May Revise, revenues are ahead by $629 million. Unused borrowable resources stand at over $91 billion. So the argument between the legislature and governor is focused on projections of not-so-good-times ahead more than the immediate situation.
As we have noted in prior posts, at the moment, the legislature seems to be rejecting any (nominal) budget cut for UC. Whether that remains a firm position should become clear in the next few days.
You can find the controller's report on the current fiscal year through May at:
https://www.sco.ca.gov/Files-ARD/CASH/May2025StatementofGeneralFundCashReceiptsandDisbursements.pdf.
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