Finance Bulletin

September 2003

Economic Update

There were some hopeful signs for the California economy in July and August.  Despite significant losses nationally, industry employment in the state essentially held steady in August.  The state’s unemployment rate improved for the second consecutive month.  Additionally, both home building and home sales improved in July.

Home Sales Surge in July

Monthly Cash Report

Preliminary General Fund agency cash for August was $66 million below the 2003 Budget Act forecast of $4.698 billion.  Year-to-date, revenues are $105 million above expectations.

General Fund Agency Cash
2003-04 Governor's Budget Act Forecast

2002-03 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.

Return to the Department of Finance Home Page