August 2013 Cash Report Summary Analysis
Published August 12, 2013
Bottom Line: What the Numbers Mean
Revenues began the new fiscal year with a bumpy start. For the year beginning July 1, total revenues were about $300 million, or 6.0%, shy of estimates contained in the 2013-14 Budget Act. Personal income taxes were the primary culprit, as the revenue take was close to $275 million, or 7.0%, below Department of Finance projections. Read more and see detailed receipts and disbursements.
Not All Spending Decisions Spelled Out In Budget
Trying to make sense of the billions of General Fund dollars spent in the annual budget? Given all the consideration and time devoted to preparing and passing the budget, it would seem the budget would reflect California's spending priorities. In some ways, General Fund allocations do provide a rough ranking of public priorities. Read more.
China’s Strategy Shift: Implications for California
China is undertaking two major changes in its economic strategy that will materially affect California. First, it is downshifting to a more moderate growth track, which has already had cascading effect throughout the global economy. Second, it is reorienting its economy from one dependent on exports to one more reliant on consumer spending. Read more of Lynn Reaser's column.
California Economic Snapshot
See recent statistics regarding California new car registrations, the median home price, single-family home sales and employment. Read more.