As reprinted from 04/01/2008

Treasurer says spending dip pushes back no-cash date

PHOENIX (AP) - State Treasurer Dean Martin says top state officials now have two to three more weeks before the general fund runs out of cash.

Martin says dramatically reduced spending by agencies in late March cut state government's average daily spending to the point where the general fund now apparently won't empty out until one or two weeks into May.

That's about two weeks later than Martin projected two weeks ago. He said then that it didn't appear that agencies were reducing their spending, but Napolitano insisted they were.

Gov. Janet Napolitano and legislators are meeting behind closed doors to try to agree on a plan to erase a projected $1.2 billion revenue shortfall in the $1.8 billion budget for the fiscal year that ends June 30.

Associated Press Writer