What statement regarding states budgets is not true?

A common misconception about state budgets is that they are always balanced, meaning that states cannot spend more than their revenues. In reality, many states operate with deficits, relying on borrowing or reserves to cover shortfalls. Additionally, some states may manipulate budgetary accounting practices to present a balanced budget, even when underlying financial conditions suggest otherwise. Lastly, not all states have the same rules regarding budget deficits, as some may have constitutional requirements for balanced budgets while others do not.