We now have the state controller's cash statement for the first half of the fiscal year. Receipts during this period to the general fund were running $8.4 billion ahead of projections when the budget was enacted. Personal income taxes and corporate taxes are the main contributors. On the other hand, disbursements are running ahead of those same projections by $9.8 billion.
There is lots of cash in the till available to finance current spending. So there is no crisis requiring outside financing. But there is a budget squeeze. As we noted in a prior post, UC President Drake has complained about the impact of that squeeze on UC.
You can find the December 2024 controller's cash report at:
https://www.sco.ca.gov/Files-ARD/CASH/December2024StatementofGeneralFundCashReceiptsandDisbursements.pdf.
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