Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
08-11-2014, 11:50 PM #1
California state revenue beats expectations in July
California state revenue beats expectations in July
By David Siders
dsiders@sacbee.com
Published: Monday, Aug. 11, 2014 - 10:10 am
California’s improving budget outlook has continued into the new fiscal year, with revenue last month beating estimates by about $232 million, or 4.5 percent, the state controller said Monday.
Revenue from income, corporate and sales taxes all beat expectations in July, the first of the 2014-15 budget year, the controller said. The report comes after the state general fund ended the last fiscal year in the black for the first time since 2007.
“Even though July is usually a weak revenue collection month, the new fiscal year is off to a strong start,” state Controller John Chiang said in a prepared statement. “While the State plans to borrow operating funds through revenue anticipation notes, the $2.8 billion needed solely for smoothing out the timing of revenues is at the lowest level since the 2006-07 fiscal year. If we can continue to reduce short- and long-term debts, we can continue to improve our fiscal condition.”
While revenue for the month beat expectations, total disbursements for the month came in $1.1 billion below expectations, Chiang reported.
Revenue collections are closely watched at the Capitol, with persistent tension between Gov. Jerry Brown and Democratic lawmakers over how optimistic to be in budgeting.
Call David Siders, Bee Capitol Bureau, (916) 321-1215. Follow him on Twitter @davidsiders.
Read more here: http://www.sacbee.com/2014/08/11/662...#storylink=cpy
http://www.sacbee.com/2014/08/11/662...nue-beats.htmlNO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
Similar Threads
-
California tax revenue beats projections, Chiang says
By JohnDoe2 in forum Other Topics News and IssuesReplies: 0Last Post: 07-10-2013, 11:13 PM -
California state revenue up $254 million in March, officials say
By JohnDoe2 in forum Other Topics News and IssuesReplies: 0Last Post: 04-12-2013, 11:15 PM -
California has $2 billion in unexpected tax revenue
By JohnDoe2 in forum Other Topics News and IssuesReplies: 1Last Post: 05-05-2011, 02:31 PM -
California Pensions Exceed 550% of State Tax Revenue 2012
By AirborneSapper7 in forum Other Topics News and IssuesReplies: 1Last Post: 10-22-2010, 11:46 PM -
Low-Tax Texas Beats Big-Government California
By AirborneSapper7 in forum Other Topics News and IssuesReplies: 0Last Post: 03-09-2010, 12:51 PM
Arizona GOP pushing tough, new border policies, but faces strong...
05-05-2024, 10:24 AM in illegal immigration News Stories & Reports