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News & Press: Sacramento Report

State Revenues Lower than Projected

Tuesday, May 16, 2017  
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In one of the most crucial months for collections, California revenues of $15.98 billion for April fell short of projections in the governor’s proposed 2017 18 budget by $1.05 billion, or 6.2 percent, State Controller Betty T. Yee reported. 

“April is usually the state’s biggest tax filing month, so lower-than-expected personal income tax receipts are troubling,” said Controller Yee.  The Governor’s office will soon issue a May budget revision that considers actual collections and expenditures.  However, the recent April numbers may signal that California needs to tailor its spending to the actual revenue reports.

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