Finance Bulletin

June 2002

Economic Update

California continues to show signs of improvement. While nonfarm payroll employment fell slightly in April, the average monthly gain so far in 2002 is an improvement over the average monthly loss of 2001. Real estate activity and consumer spending remain the strong points of the state’s economy.

  Home Prices Pass $300K Mark

Monthly Cash Report

Preliminary General Fund agency cash for May was $250 million below the 2002-03 May Revision forecast of $3.712 billion.  Including adjustments for actual April receipts that were not known when the May Revision forecast was prepared, year-to-date revenues are $246 million lower than the $58.081 billion that was expected.  Although May is a significant revenue month, June is far more important.  As the second-largest month of the year, $7.1 billion is expected during June. 

General Fund Agency Cash
2002-03 Governor's Budget Forecast

2001-02 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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