At the end of the 2003-2004 fiscal year, the State’s General Fund was able to report an operating surplus of $3 billion, largely as a result of using the proceeds of tobacco bonds to pay operating expenses.
At the end of the 2003-2004 fiscal year, the State’s General Fund was able to report an operating surplus of $3 billion, largely as a result of using the proceeds of tobacco bonds to pay operating expenses.