Saturday, January 10, 2015

At the 6th month mark

The new state controller Betty Yee has release the cash receipt statement for the first six months of the current fiscal year.  Like earlier such statements released by her predecessor, the numbers show more revenue flowing into the state treasury than was predicted when the budget was passed last June.  In fact, there is an extra $3 billion.

Because of seasonality of revenue flows, there is still a large negative balance in the general fund reserve, about $16 billion in internal and external borrowing.

You can find the new controller's statement at:

[Yes, yours truly knows that the big news is the governor's budget proposal but he is in transit and so will get to the governor's plan when he can.  However, the controller also commended the governor for being fiscally prudent:]

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