Tuesday, June 15, 2021

Money: It's Rolling In!

The latest report from the state controller for the current fiscal year through May shows the results below for the general fund ($ billions). Receipts include tax and other revenue and transfers including funds from the federal government. We are ahead of the projections made last January, way ahead of the projections made last June when the current year's budget was enacted, and way ahead of where we were a year ago at this time.

Total Receipts Through May

  • Actual in May                 $197.1
  • Projected for May in January  $194.5
  • Projected for May last June   $142.1
  • Received in 2019-20           $126.0

The state has a lot of money available "in the bank" - more than expected and more than it had a year ago at this time - that it can use if needed. These funds include the various reserves associated with the general fund plus monies outside the general fund that can be borrowed.

Unused Borrowable Resources in May

  • Actual                         $51.1
  • Projected in January           $45.1
  • Projected last June            $31.8
  • Level in 2019-20               $44.0

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