Ladies & Gentleman. The moment we’ve all been waiting for…….The offical first day of summer! And for policy wonks like myself, the June Revenue Forecast (listed under Budget Balancing News in the middle of the page).

An initial glance does not look promising. Even with the delay in Medicaid payments, the state is approximately $74 million short for FY09-10, which ends June 30th. With this updated forecast, it appears that the FY10-11 budget is close to $215 million short. I would imagine an official announcement of the June revenue forecast and what sort of cuts our state can expect will occur shortly.