Fiscal Condition - Cash Balances
Some of the most frequently asked questions fielded by this Office are, "Why haven't I received my state payment yet?" or "Why can't the state pay it's bills on time?" The chart below illustrates the cash flow problems experienced by the state during the past few fiscal years.
Given the pattern of negative cash flow balances, the state cannot pay all of its bills immediately. With the General Revenue Fund cash balance so low, there simply is not enough cash on hand to pay all of the bills presented for payment on any given day. Once a voucher reaches the Comptroller's Office, it may take in excess of 60 working days before a warrant can be issued.
Plotting multiple years on the same graph permits year-to-year comparisons. Note that there is a cycle or pattern evident in the fiscal condition of the General Revenue Fund. Regardless of the year, the months of November and December have the lowest cash balances while income tax receipts in mid-April bring the balances back up in late-April and May.
