The 2023-24 Budget: Financing Approaches for Capital Outlay Projects

Feb 28, 2023 - For example, if the state has a budget deficit, bonds can fund important projects w ithout forcing the state to cut into existing programs. On the other hand, cash financing has certain benefits over bonds.
https://lao.ca.gov/Publications/Report/4709

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - This approach provides the state with a cushion to more easily accommodate a drop in the minimum guarantee without making cuts to ongoing programs. Though the Governor Is Focusing on Issues of Legislative Concern, One ‑Time Funding Might Not Have Much Impact.
https://lao.ca.gov/Publications/Report/4135