Finance Bulletin

October 2004

Economic Update

California's real estate markets appear to be cooling down from their recent overheated performance. While home prices continue to rise, the pace has slowed noticeably in recent months. New home construction, meanwhile, is still maintaining a commendable and sustainable pace.

Home Price Run-Up Slows

Monthly Cash Report

Preliminary General Fund agency cash for September was $332 million above the 2004 Budget Act forecast of $7.979 billion. Year-to-date, revenues are $564 million above expectations. September is a significant month for both the personal income and corporation taxes because the third estimated payment for calendar year filers was due in mid-September.

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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