There's More Than Expected

The state controller is out with her figures on state general fund cash for the fiscal year through the month of April.

Relative to the June 2020 estimates, the state had $36.4 billion more in revenue than forecast, of which $29.6 billion came from the personal income tax.

Relative to the updated January 2021 estimates, the state had $12.2 billion more in revenue than forecast, of which $8.4 billion came from the personal income tax.

The state's cash cushion was also above forecast levels. Unused borrowable resources stood at $49.1 billion at the end of April whereas the original June 2020 forecast was $31.3 billion and the updated January 2021 forecast was $45.8 billion.

Details are at https://sco.ca.gov/Files-ARD/CASH/APR2021StatementofGeneralFundCashReceiptsandDisbursements.pdf.