Sometimes, you don't quite make it

The state controller's cash statement released yesterday indicates that revenues through February in the current fiscal year fell short of projections, both those made when the budget was passed last June or the more recent one made at the time of the governor's January budget proposal for next year.

Of course, the big revenue month is April and the missing revenu relative to the overall budget is not huge. It is a bit worrisome that it is concentrated in the sales tax which is a general indicator of consumption activity. But let's wait until April. Note, however, that requests by UC for more state funding are not helped by such numbers.

The controller's report is at http://sco.ca.gov/Files-ARD/CASH/February%202017%20Statement%20of%20General%20Fund%20Cash%20Receipts%20and%20Disbursements.pdf