Revenue Overflow

As we have noted, revenues to the state treasury have been exceeding projections made last January in the guv's budget forecast. The state controller's report for April has just come out and it shows revenues above the forecast for the first 10 months of the year by over $3 billion. As noted in a prior post, the May Revise is soon to appear and the legislature will enact a budget by mid-June. Extra revenue tends to be eaten up by Prop 98's mandates for K-14. But, other things equal, more is better than less for UC's budgetary claims.

You can find the controller's report at http://www.sco.ca.gov/Files-ARD/CASH/fy1415_may.pdf

(As of this evening, there is still nothing on the guv's website or the calchannel website indicating when the May Revise will be unveiled.)