General information

State Controller Releases January 2015 Cash Report

Last Tuesday, the Office of the State Controller released their monthly report detailing California’s cash balance, receipts and disbursements for January 2015. Revenues for the month totaled $12.6 billion, coming in below budget estimates by $138.1 million or 1.1 percent. The report shows sales tax receipts of $129.1 million, also 1.1 percent below estimates. Corporate tax receipts totaled $144.3 million above estimates at 3.7 percent and personal income taxes registered $9.3 million, exceeding budget projections by 0.02 percent. 

As of January 31, the General Fund cash deficit was $10.7 billion, which was covered by $7.9 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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