In excess

The state controller has released cash budget estimates through March of the current fiscal year. As have previous cash reports, this one shows revenues running in excess of the projections made when the 2015-16 budget was enacted. The excess is over $2 billion and is mainly in the personal income tax (suggesting capital gains revenues). Sales tax revenue is actually running a bit below estimates made when the budget was enacted.

Note that April is a big month for income tax receipts and we won't have data for April until next month.

You can find the cash statement at:
http://sco.ca.gov/Files-ARD-Local/LocRep/09_March_2016.pdf

The comparison with the original budget forecast is on page B2.