|
|
Enron Mail |
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Susan J Mara X-To: Alan Comnes, Angela Schwarz, Beverly Aden, Bill Votaw, Brenda Barreda, Carol Moffett, Cathy Corbin, Chris H Foster, Christina Liscano, Christopher F Calger, Craig H Sutter, Dan Leff, Debora Whitehead, Dennis Benevides, Don Black, Douglas Huth, Edward Sacks, Eric Melvin, Erika Dupre, Evan Hughes, Fran Deltoro, Gayle W Muench, Ginger Dernehl, Gordon Savage, Harold G Buchanan, Harry Kingerski, Iris Waser, James D Steffes, James W Lewis, James Wright, Jeff Messina, Jeremy Blachman, Jess Hewitt, Joe Hartsoe, Karen Denne, Kathy Bass, Kathy Dodgen, Ken Gustafson, Kevin Hughes, Leasa Lopez, Leticia Botello, Mark S Muller, Marsha Suggs, Marty Sunde, Meredith M Eggleston, Michael Etringer, Michael Mann, Michelle D Cisneros, mpalmer@enron.com, Neil Bresnan, Neil Hong, Paul Kaufman, Richard L Zdunkewicz, Richard Leibert, Richard Shapiro, Rita Hennessy, Robert Badeer, Rosalinda Tijerina, Sandra McCubbin, Sarah Novosel, Scott Gahn, Scott Stoness, Sharon Dick, skean@enron.com, Susan J Mara, Tanya Leslie, Tasha Lair, Ted Murphy, Terri Greenlee, Tim Belden, Tony Spruiell, Vicki Sharp, Vladimir Gorny, Wanda Curry, William S Bradford, Jubran Whalan, triley@enron.com, Richard B Sanders, Robert C Williams, dwatkiss@bracepatt.com, rcarroll@bracepatt.com, Donna Fulton, gfergus@brobeck.com, Kathryn Corbally, Bruno Gaillard, Linda Robertson, Ren, Lazure, Michael Tribolet, Phillip K Allen, Christian Yoder, jklauber@llgm.com, Tamara Johnson, Mary Hain, Greg Wolfe, Jeff Dasovich, Dirk vanUlden, Steve Walker, James Wright, Mike D Smith, Richard Shapiro, Leslie Lawner, Robert Neustaedter, Steve Walton, psmith3@enron.com, mjackso7@enron.com, Janel Guerrero, Mark Fillinger, Jennifer Rudolph, Martin Wenzel, wgang@enron.com, Joseph Alamo, Tracy Ngo X-cc: X-bcc: X-Folder: \Steven_Kean_June2001_4\Notes Folders\Discussion threads X-Origin: KEAN-S X-FileName: skean.nsf Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 03/21/2001 12:01 PM ----- smara@enron.com Sent by: "Report mailer problems to http://www.quicken.com/support" <nobody@nowhere.com< 03/21/2001 11:55 AM Please respond to smara To: undisclosed-recipients:; cc: Subject: Calif State Controller:General Fund Surplus Dn To I thought you might find this story interesting. ------------------------- Article ------------------------- Wednesday, March 21, 2001 02:21 PM <!--TEXT--< LOS ANGELES (Dow Jones)--California State Controller Kathleen Connell Wednesday said the state's general fund surplus has dropped to $3.2 billion from $8.5 billion in January, mostly because of electricity purchases made by the state's Department of Water Resources, a press release said. Connell also denied Gov. Gray Davis' request to transfer an additional $5.6 billion from the general fund to the Special Fund for Economic Uncertainties, the release said. Connell noted that, given the rapid depletion of the general fund on power purchases, the state would need to borrow $2.4 billion in order to tranfer the $5.6 billion from the general fund to the special fund. "We started this year with a generous budget surplus. The energy crisis has taken much of that away, and this transfer on top of the electricity purchases would put the fund at risk," Connell said. Connell called on Davis to ensure that the CDWR completes by the end of May 2001 the revenue bond sales that will be used to buy power and repay the general fund. She also asked that the CDWR notify her of all power purchases made and contracts negotiated thus far and requested that she be told within 7 days of any purchases and contracts negotiated in the future. Connell also said she wanted to be told within 24 hours of any power buys that exceed $55 million and asked that the Department of Finance be directed to prepare new general fund cash flow estimates for the next 30 and 60 days, and for the end of the fiscal year. The state's Department of Water Resources has been buying power since January in lieu of Edison International (EIX) utility Southern California Edison and PG&E Corp (PCG) utility Pacific Gas and Electric Co, because suppliers refused to sell to the nearly-bankrupt utilities. -By Jessica Berthold; Dow Jones Newswires; 323-658-3872; jessicaberthold@dowjones.com Gov. Davis' office said, in response to Connell's comments, that the state budget was solid and the economy remained strong. "We will be getting the money back we've paid for energy and it should have no significant effect on the state's finances from the Wall Street perspective," said Davis press secretary Steve Maviglio. -By Jessica Berthold; Dow Jones Newswires; 323-658-3872; jessicaberthold@dowjones.com 2001 Dow Jones & Company, Inc. All Rights Reserved. ----------------------------------------------------------- This article on the Excite Money and Investing Channel is produced by Quicken.com, the objective source for making the most of your money. Visit Excite Money and Investing at http://quicken.excite.com next time you need financial news, stock quotes, portfolio services, or information about taxes, mortgages, and insurance.
|