Extra Cash

We now have two months data on cash receipts by the state for fiscal year 2023-24. And, in keeping with our prior post on unemployment claims, there is no sign of what we would see in a recession scenario.

Basically, total revenues to the general fund are running about $1 billion more than forecast when the budget was enacted at around $22 billion. That's about the same as last year. Internal unused borrowable resources are now at a breathtaking $100 billion, up from $77 billion at this time last year.

There are all the obvious caveats about reading a lot into two months worth of data with ten months left to go in the year. 

Full controller's report is at https://sco.ca.gov/Files-ARD/CASH/August2023StatementofGeneralFundCashReceiptsandDisbursements.pdf.