Today, the Department of Finance, State Controller’s Office, and State Treasurer’s Office jointly determined the need to exercise the authority available to them under Government Code Section 16325.5(e) and move the 90-day deferral of social services payments to counties from October 2010 to September 2010. This means the payments will eventually be made in December [...]
Just like that, arguably the most hated bill of the 2009-10 legislative session is revived.
IOUs are soon to come, bills are quick to pass, and unemployment is slow to drop: a news smorgasbord.
The budget clock continues to tick loudly here in Sacramento. The 2010-11 budget is now the fifth-latest budget in recent memory and, if you’re the betting type, could be in the running for first place.
State Controller John Chiang released financials for the month of July, and announced that without a realistic state budget he will have to begin issuing IOUs by late August or early September.