State Comptroller Susan Combs will send her annual budget report to the State Legislature today, and the news isn't great, but definitely not as gloomy as elsewhere.
Basically, what it boils down to is less taxes and income were collected last year, which will cause some budget constraints. However, the State will not go bankrupt or force employees to take unpaid leave like other states. At least, that is the forecast.
For a full breakdown of what was collected and what money goes where, you can visit the State Comptroller's Official Site which will also have a copy of the report up sometime today or tomorrow, after Combs has officially presented it to legislators.