The one-day, $1-billion California budget gimmick that has lasted for almost a decade – Los Angeles Times

The budgetary sleight of hand in question, part of a 2009 spending plan, was both brilliant and preposterous. It ordered that $1.6 billion in state worker salaries and benefits scheduled for payment June 30 — the final day of California’s fiscal year — should instead be paid a day later, on July 1. The result was a net decrease in spending, a cut without actually cutting anything.