Bloomberg News

California Revenue Trails Budget by $1 Billion, Controller Says

December 13, 2011

Dec. 8 (Bloomberg) -- California tax collections since the start of the fiscal year have trailed projections by about $1 billion, less than the amount reported last month, the state controller’s office said.

Revenue from July 1 to Nov. 30 was $1.02 billion less than forecast in the state’s budget, Controller John Chiang’s office reported in a financial statement for last month. On Nov. 10, he reported the deficit was almost $1.52 billion through Oct. 31.

--Editors: Ted Bunker, Mark Schoifet.

To contact the reporter on this story: Michael B. Marois in Sacramento at mmarois@bloomberg.net

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net


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