February Revenues 8% Below Estimates, Year-to-Date Still $4.8 Billion Above Expectations

Cash received by the state  in February was $322 million below the $3.9 billion expected in Gov. Jerry Brown’s budget plan, released in January, according to the Department of Finance’s March Bulletin..

Since the fiscal year began on July 1, revenues are $4.8 billion above the forecast of $54 billion.

During February, personal income tax revenues were off the most, $429 million below the month’s forecast of $2.1 billion.

The bulletin also shows steady improvement in the state’s real estate market. 

-30-