For the state of California (the actual state government, not the state in general), the fiscal year runs July 1st through June 30th. In order to proceed with business as usual on July 1st of each year, a budget for that fiscal year has to have been passed by the state legislature and signed by the governor.
From July 1, 1977 through June 30, 2011, the budget has been signed by July 1st exactly 10 times.
For fiscal year 2010/2011, the budget was signed on the latest ever date: October 8, 2010.
The last time it was signed on time was June 30, 2006.
Today, the last day of the current fiscal year, the new budget was signed.
Without the hand wringing, nail biting, legislature watching, news refreshing that has occurred in previous years.
It's amazing what you can accomplish when you stop paying legislators.
OK, fine. And that part about only needing a simple majority vote instead of 2/3's.
And the new governor probably helped, too.
I don't think any of us remembers what to do when the fiscal years are seemless!
PS: Because the end/beginning of the fiscal year is pretty slammed for me, I may be light on posting for awhile. I'd apologize, but, hey. I don't get paid for this.