You have player and staff payroll of 67 mil, budget of 104 mil. It will allow you to spend the cash you have on hand, and the projected balance... but it may be a different issue. Since you have a low "projected balance" it should mean you've spent a lot of cash on players you don't have anymore... maybe you had a 12 mil player for half the year, your expenses would show 6 mil spent, but payroll wouldn't show him anymore. Since you should, theoretically, have 37 million projected balance this makes sense.
What is your BALANCE?
You have the CASH line,
then player expenses,
then staff expenses,
then BALANCE
If that is going negative, or very low, that may be a consideration in what it's showing you as available for extensions.
Also, how much money is supposedly leaving for free agency if you don't sign them? It should be adding their current salaries in to what you have available.
I do see a little evidence that it may be adding a little something in for arbitration...
Right now I should have 10 mil for extensions, it's saying I have 4. I have 3 guys that will go through arbitration and if I bump their current salaries slightly (to about what they should be) that would add 6 mil onto my payroll...
Finally, where are you in the season? I've seen some very weird numbers on the financial page that slowly get worked out as the season progresses.
As you can see, I'm not an expert on how the financial system works.
I've been attempting to figure it out through some trial and error though... wouldn't mind if an expert came in and explained it to us either.