SAN FRANCISCO — California Gov. Jerry Brown’s quick veto of the budget adopted by the Legislature last week has renewed concerns about the state’s cash flow amid another long ­delay.

Without an enacted balanced budget, the state cannot go forward with its annual multibillion-dollar revenue anticipation note sale over the summer that is used to shore up cash to pay for operations.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.