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Treasurer reports $917 million cash balance; interfund borrowing monitored
Summary
The state treasurer's office reported a $917 million cash balance and an $8.9 billion interfund borrowing base, noting typical intra-year borrowing activity and that cash is currently positive; no motions were required.
Lindsay Schexnatter of the state treasurer's office reported that the state's cash balance was $917,000,000 and that the interfund borrowing base stood at $8,900,000,000.
"Our cash balance as of yesterday was $917,000,000 and our interfund borrowing base was 8,900,000,000.0," Schexnatter said, and presented graphs showing average balances and normal interfund borrowing activity across the fiscal year.
She told the REC that interfund borrowing has been used during the fiscal year as collections and expenditures fluctuate, but that the cash position is now positive. The treasurer's office said it will continue to monitor balances and alert the panel to any issues. No motion or vote was necessary on the status report.
