State Controller’s Office Releases June Cash Update

General information

Last Thursday, the State Controller’s Office released its monthly report detailing the state’s cash balance, receipts and disbursements for June 2014.

Revenues totaled $14.8 billion, exceeding state budget projections by $304 million (2.1 percent) for the month. The report shows income tax revenue was $635 million (7.4 percent) above estimates; corporate taxes exceeded predictions by $289 million (13.2 percent); and sales tax failed to meet expectations coming in $265.8 million (11.6 percent) lower than anticipated.

As of June 30, the General Fund totaled $1.9 billion in cash, ending the fiscal year with a surplus for the first time since 2007.

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