IOUs to End September 4

Finally, state Controller John Chiang (D) announced Thursday that the state will stop issuing IOUs on September 4, a month earlier than previously projected, after a review of projected state cash flow. Mr. Chiang, who has been a vocal critic of the governor and the legislature, began issuing IOUs, formally known as “registered warrants” in July when the state ran short of cash. His office has issued some 327,000 of the interest-bearing warrants totaling $1.95 billion. CA Alliance News