California State Controller Releases November Cash Update

The State ended the last fiscal year with a cash deficit of $9.6 billion. As of November 30, that cash deficit totaled $24.9 billion and is being covered with $14.9 billion of internal borrowing (temporary loans from special funds), and $10 billion of external borrowing.
For more details on today’s report, read November 2012’s financial statement and summary analysis.
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