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Title: California revenues lag, underscore budget woes
Source:
Reuters
URL Source: http://www.Reuters.com
Published: Dec 17, 2009
Author: Jim Christie
Post Date: 2009-12-17 10:46:21 by Nebuchadnezzar
Keywords: None
Views: 511
Comments: 6
California revenues lag, underscore budget woes Reuters ^ | 12/16/09 | Jim Christie California revenues lag, underscore budget woes By Jim Christie Wed Dec 16, 5:51 pm ET SAN FRANCISCO (Reuters) – California's revenues since the start of its fiscal year are trailing estimates by more than $1 billion, according to the state's November revenue report, which comes as Governor Arnold Schwarzenegger wrestles with crafting a balanced state spending plan. Next month Schwarzenegger must present to lawmakers a balanced budget plan for California's next fiscal year beginning in July, while closing the deficit that has reopened in the current fiscal year's spending plan. The combined shortfall for the two years has been pegged at about $21 billion -- the result of a state economy battered by a steep decline in its housing market, weak consumer spending, widespread layoffs and 12.5 percent unemployment. The broad economic weakness gripping the most populous U.S. state was reflected in the state Department of Finance's November revenue report released on Tuesday. "Preliminary General Fund agency cash for November was $4.9 billion, or $439 million below the Amended 2009 Budget Act forecast, which includes the unallocated revenue adjustment. On the same adjusted basis, year-to-date revenues are $1.035 billion below the expected $30.414 billion," the report said. DON'T SHOOT, THEY'RE CALIFORNIANS, LET THEM BURN!!!!
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#5. To: Nebuchadnezzar (#0)
They found money ( fees and taxes) corrections Union is already saying the mandated furloughs are ending soon.
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