While lawmakers work on plugging a budget hole the state is still raking in revenue and paying its bills. State Controller David McCoy released the new cash flow figures this week. In just one week the state government’s bank account went from $994,372,575.36 to $2,205,621,249.73. Taxes brought in $1,476,223,715.41. Other revenue amounted to $333,599,386.84. The biggest expense in the latest week was $177,221,837.51 for Medicaid and other Provider payments. After that was a payroll of $169,967,943.62. Keep in mind these numbers represent just one week of business in the state. When you take into account tax refunds, tax revnue owed to local government plus other liabilities the cash on hand drops to $787,821,508.75.
Republicans say the budget shortfall is from $2.4 billion to $3.7 billion. That’s if you want to spend that much. The GOP leaders in the House just about have their budget ready and they vow to pass a balanced budget early next month with no tax increases.
The spending plans considered by budget subcommittees in the past couple of weeks contained a lot of cuts to government agencies.
Republican Senate President Pro Tem Phil Berger said in a statement released today (April 25) he and House leaders have asked Democrats to contribute ideas. Berger said the Democrats have to do more than sit back and say no.