December 18, 2009
|December 18, 2009|
|State Funds Available Cash Start of Business||$1.9 billion*|
|Pending Payments Start of Business||$612.6 million**|
|Estimated State Fund Receipts||$621.9 million***|
|Estimated State Funds Available End of Business (Closing Balance)||$1.9 billion****|
|*Amount of cash on hand to pay bills
**Vouchers payable today
***Tax, federal and misc. receipts from agencies received today
****Amount of cash on hand after paying bills and receiving in revenue
Additional significant payments scheduled for December include: $2.5 billion for School Property Tax Relief Program (STAR), $398 million for welfare reimbursements to counties and $247 million to insurance carriers. STAR payments, along with others, are expected to be reduced by the Division of the Budget by approximately 19 percent. STAR payments are typically made at the end of December.
The State Comptroller’s office processes approximately 130,000 state payments daily. In State Fiscal Year 2008-09, it processed more than 34 million payments totaling approximately $103 billion.