General information

State Controller Releases February 2015 Cash Report

Last Wednesday, the Office of the State Controller released their monthly report detailing California’s cash balance, receipts and disbursements for February 2015. Revenues for the month totaled $6.6 billion, coming in above 2015-2016 budget estimates by $1 billion or 18.3 percent. The report shows sales and use tax receipts of $3.5 billion, beating expectations by 15.8 percent. Corporate tax receipts for the month totaled $3.6 million and personal income taxes registered $2.6 billion, exceeding budget projections by 26.3 percent. 

As of January 31, the General Fund cash deficit was $11.9 billion, which was covered by $9.1 billion of internal borrowing and $2.8 billion borrowed from banks and other outside investors.

If you have any questions, please contact Kevin Gould, CBA’s senior vice president and director of state government relations, at kgould@calbankers.com or (916) 438-4410.

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