February Revenues 8% Below Estimates, Year-to-Date Still $4.8 Billion Above Expectations
Cash received by the state in February was $322 million below the $3.9 billion expected in Gov. Jerry Brown’s budget plan, released in January, according to the Department of Finance’s March Bulletin..
Since the fiscal year began on July 1, revenues are $4.8 billion above the forecast of $54 billion.
During February, personal income tax revenues were off the most, $429 million below the month’s forecast of $2.1 billion.
The bulletin also shows steady improvement in the state’s real estate market.
Filed under: Budget and Economy
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