October 2013 Cash Report Summary Analysis
Published October 10, 2013
Bottom Line: What the Numbers Mean
State coffers welcomed a jump in revenues in September that offset shortfalls in the prior two months. Total revenues moved past expectations by $427 million, or 5.3%. With spending holding in line with estimates, California ended the first quarter of its fiscal year on track with estimates contained in the 2013-14 Budget Act. Read more and see detailed receipts and disbursements.
More on California Fiscal Policy: How Income Tax Withholding Affects Borrowing Patterns
Recent revenue reports have shown that the collection of General Fund revenues tend to accelerate over the fiscal year, so that more revenue flows to the State in the latter half of the year. One reason for this collection delay is attributable to the unique administrative nature of the State’s largest revenue source, the personal income tax. Read more.
Featured Column: What's the Future of Bad Budgeting?
Government debt is in the news. Again. Recent national headlines range in tone from the breathless to cataclysmic. What are we to make of this? Are these stories exaggerations borne of our cynicism about leadership and general despair about the future? Read more of Controller John Chiang's column.
Featured Column: Despite Small August Uptick, Jobless Rate Likely to Decline
California's jobs picture was mixed in August. After declining earlier in the year, the jobless rate moved up for the second month in a row during August, rising to 8.9% from 8.7% in July. The rise came despite a drop each month in the labor force. Read more of Lynn Reaser's column.
California Economic Snapshot
See recent statistics regarding California new car registrations, the median home price, single-family home sales and employment. Read more.