Finance Bulletin

February 2005

Economic Update

California received good economic news on retail sales as 2004 drew to a close. Home sales and home construction were also strong. Real estate prices appear to have stabilized. Commercial construction was also strong. However, the news on jobs was disappointing, although the unemployment rate held steady at 5.8%.

Have Home Prices Hit a Ceiling?

Monthly Cash Report

Preliminary General Fund agency cash for January was $420 million above the 2005-06 Governor's Budget forecast of $8.340 billion. The variance between January and year-to-date cash results from differences between actual and estimated December revenues.
In total, December revenues were $287 million above forecast.

General Fund Agency Cash
 2004-05 Budget Act Forecast

2004-05 Comparison of Actual and Forecast 
Agency General Fund Revenues

For more information, please contact the California Department of Finance,
Room 1145, State Capitol, Sacramento, CA or call (916) 323-0648.

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