TALLAHASSEE -- Florida's cash shortfall is growing, now at a projected $1.25 billion.

That's according to an e-mail legislators received Tuesday from the Department of Financial Services, notifying them of the deficit brought about by declining general revenue receipts.

Gov. Charlie Crist will have until Nov. 12 to decide whether or not to allow DFS to borrow $500 million in additional cash from state trust funds to avoid a shortfall in the state's general revenue account.

In August, the state got approval for a temporary transfer of cash from trust funds of up to $750 million. It used $300 million of that on Oct. 17 and DFS expects it will need another $700 million in November.

The Legislature gave the governor authority to approve these transfers and, if he agrees, the total amount borrowed to close the cash gap this year would be $1.25 billion. That's a hole that legislators will have to fill by June 30.

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