Orange County Breeze
News of Northwest Orange County, CA
Southland Credit Union | You Can Join! | Find Out How

Yes on Measure Q | Friends for Cypress Schools | www.FriendsforMeasureQ.com




Government

October 11, 2012
 

California revenues year-to-date 2.2% below budget projections

Printer-friendly version of this post Printer-friendly version of this post
seal of the controller of the state of California

The following information was released by California State Controller John Chiang. Emphasis has been added.

State Controller John Chiang today released his monthly report covering California’s cash balance, receipts and disbursements in September 2012, showing that total revenues were $162.5 million below (2.2 percent) projections contained in the 2012-13 State budget.

“September’s numbers narrowly missed estimates in the State budget,” said Chiang. “Overall, revenues in the first quarter were 1 percent off projections, which indicates that the State’s cash position – its ability to pay bills in full and on time – is stable.”

Personal income taxes in the month of September rose $112.3 million above (2.6 percent) projections, while sales taxes were $87.5 million below (5.6 percent) projections. Corporate taxes were also down for the month, coming in $74.8 million below (8.8 percent) projections.

September’s disbursements were $1.8 billion below projections. However, $1.5 billion of that number is attributable to an education payment that was released in July rather than on its originally-slated date last month.

The State ended the last fiscal year with a cash deficit of $9.6 billion. As of September 30, that cash deficit totaled $22.3 billion, and is being covered with $12.3 billion of internal borrowing (temporary loans from special funds), and $10 billion of external borrowing.

For more details on today’s report, read September 2012’s financial statement and summary analysis.

More about Orange County Breeze

Did you know that we have a monthly print edition?

We do!

We also have digital version of our print edition online.

To receive a daily email summary of the news, subscribe to our free daily feed!

Enhanced by Zemanta


About the Author

courtesy
This author is used when OC Breeze publishes news releases from other organizations.



Subscribe to our daily morning email news update!
 
 

 
Stephen Hammond and Josh Wilson, new commissioners for the City of Los Alamitos.

New members approved for Los Alamitos city commissions

At a special meeting on Monday, Oct. 20, members of the Los Alamitos City Council interviewed two applicants for openings on two of the City’s advisory commissions. Both applicants were subsequently approved. Stephen Hammond ...
by shelley
0

 
 
Long Beach Police Department shoulder patch. Courtesy photo.

LBPD offers Halloween safety tips, warns of pot-laced candy

The Long Beach Police Department would like to warn parents about marijuana laced candy, and encourage the community to practice safety tips to ensure a fun and safe Halloween. Can you identify which candies pictured in this ph...
by courtesy
0

 
 
Graphic courtesy of California Highway Patrol.

Distracted teen drivers targeted by joint CHP and ITD program

Every year, thousands of lives — including too many young lives — come to an end on California roadways. Reckless and distracted driving are the number one killers of teens in America and are 100 percent preventable. Since ...
by courtesy
0

 

Subscribe to our daily overnight news summary!

 
Anaheim Police Department shoulder patch. Courtesy graphic.

Anaheim PD receives grant for traffic safety

The Anaheim Police Department has been awarded a $382,484 grant from the California Office of Traffic Safety (OTS) for a year-long program of special enforcements and public awareness efforts to prevent traffic related deaths a...
by courtesy
0

 
 
California Emergency Management Agency

UC Medical Centers ready to render aid to confirmed Ebola patients

Though there are no confirmed or suspect cases of Ebola Virus Disease (Ebola) in California, today the University of California Office of the President informed the California Department of Public Health (CDPH) that all five UC...
by courtesy
0