With cash flow problems, state may face budget cliff early next year

With cash flow problems, state may face budget cliff early next year (access required)

By Luige del Puerto - luige.delpuerto@azcapitoltimes.com

Published: December 8, 2009 at 10:41 am

Arizona faces another budgetary cliff early next year, when the State Treasurer's Office might have to issue IOUs to pay bills if $735 million expected from the sale-leaseback of state assets does not materialize. Treasurer Dean Martin told a panel of lawmakers that the state needs to have the money by the end of January to be able to make payment to schools by Feb. 1.

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