Finance Bulletin

September 2004

Economic Update

The end of summer brought mixed news for California. The unemployment rate dropped precipitously in August, but job growth was not as dramatic. Building activity slowed during July and August but still maintained a commendable lead over last year's pace. Meanwhile, strong home sales continued and home prices are much higher than at this time last year.

Unemployment Drops in August

Monthly Cash Report

PrePreliminary General Fund agency cash for August was $122 million above the 2004 Budget Act forecast of $5.333 billion. Year-to-date, revenues are $232 million above expectations. September will be a significant month for both the personal income and corporation taxes because the third estimated payment for calendar year filers will be 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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