Friday, June 10, 2016

Two-Handed Cash Report for May

The state controller's cash report is out for the first eleven months of the current fiscal year. On the one hand, it shows revenues below what was forecast in January when the governor made his initial budget proposal for the coming fiscal year. (The forecast error is mainly in the corporate income tax.) On the other hand, revenues are above what was forecast at the time the current year budget was enacted. (The forecast error is mainly in the personal income tax.) Whatever news value there may be in the report, it comes too late to have much influence on the last-minute dealing going on concerning the budget in the legislature. The report is at:

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