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Ducey spokesman Daniel Scarpinato said it’s too early for Farley or anyone else to sound the alarm about whether state agencies will be denied the restoration of previous cuts in FY17, despite a projected $266 million surplus. For that matter, Scarpinato said it would be premature to start making decisions about the surplus funds at all.

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Phoenix looking at a budget surplus

Phoenix may be sitting on a pile of money when the new budget year begins in July. It's the first time in years the city may have a surplus of cash that city officials are projecting could be from $10 million to $15 million in the general-fund budget for the 2012-2013 fiscal year.

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Colleges decry budget cuts, sit atop $320M in cash (access required)

Community college officials came in full force to the state Capitol earlier this year to outline the potential ramifications for the proposed steep cuts to their budgets. Yet at the time they made their case, most college districts were sitting atop millions of dollars in cash reserves.

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