Finance Bulletin

July 2004

Economic Update

Positive employment news in recent months indicates that California's economic recovery is now broad-based and sustainable. Improved job growth has joined healthy commercial and residential construction, strong real estate markets, and rebounding exports to create a full-fledged recovery.

California Exports Surge

Monthly Cash Report

Preliminary General Fund agency cash for June was $373 million above the 2004-05 May Revision forecast of $8.105 billion. Year-to-date revenues are $59 million higher than the $75.619 billion that was expected. These figures do not reflect final, accrued 2003-04 revenues, but simply agency cash through June. Accrued revenues will not be known until this Fall, at which time a true picture of 2003-04 actual revenues will be available..

General Fund Agency Cash
2004-05 May Revision Forecast

2003-04 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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