State Controller says State will run out of cash by March

California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letter state Controller John Chiang sent to state lawmakers today.
The announcement is surprising since lawmakers previously believed the state had enough cash to last through the fiscal year that ends in June.

Read more here: http://blogs.sacbee.com/capitolalertlatest/2012/01/controller-state-to-run-out-of-cash-in-march-without-action.html#storylink=cpy