According to reliable reports, they did have the money but decided it would be of more use elsewhere. The dam was fine as long as there was a drought, and the high-speed rail and various social programs were much closer to the top of the State's priority list.... I know, they were warned in early 2000's that the zone below the emergency spillway should be boiler-plated but they didn't have the bucks then and took a calculated chance that it would survive. ...