January 2014 Cash Report Summary Analysis
Published January 9, 2014
Bottom Line: What the Numbers Mean
California ended the 2013 calendar year with a burst of tax receipts as the economic recovery continued to boost jobs, incomes, profits, and spending. Revenues flowing into the State’s General Fund coffers totaled $10.6 billion, beating estimates contained in the 2013-14 Budget Act by a hefty $2.3 billion, or 27.7%. Read more and see detailed receipts and disbursements.
More on California Fiscal Policy: Plotting the State’s Financial Health in Good Times
Each year, the Legislative Analyst publishes a comparison of revenues and expenditures for a medium-term forecast of the General Fund condition. This year, Legislative Analyst Mac Taylor estimated annual operating surpluses -- incoming revenues that exceed outgoing expenditures in each year -- over the medium-term. By the end of the decade, he expects surpluses to rise to nearly $10 billion, assuming steady growth in the economy. Read more about fiscal policy.
Guest Column: California is Building Momentum
California's economy has continued to show more favorable signs, refuting claims that the state has lost its ability to grow. Although the path has not been straight upward, jobs, incomes, and retail sales are again expanding, while home prices climb. The state's fiscal picture has also brightened significantly. Although not without hurdles and risks, look for California to show more of its resilience in 2014. 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 snapshot numbers.