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Description: In 2008‑09, weakening revenues and limited access to the credit markets reduced the California's resources to address monthly cash flow deficits. As a result, the state’s “cash cushion”—its available liquidity to allow the General Fund to make all budgeted payments on time—became unacceptably low. This report outlines the differences and similarities between the budget and cash flow situations, and makes recommendations for corrective actions to address the crisis.
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Subject: California--Economic conditions , California--Appropriations and expenditures, Budget--California
Creator: California. Legislature. Joint Legislative Budget Committee. Legislative Analyst
Language: English
Coverage: California
Format: Government Documents
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