The California budget’s strong financial performance this fiscal year hit a bump in the road last month.
November tax revenues came in roughly two percent below projections, which equates to more than $150 million.
Overall this fiscal year, the state’s been doing well – revenues are $1 billion over projections, or about three percent. The question is whether this is the start of a downward trend, or if it’s just a temporary blip.
California’s volatile income tax collections fell more than seven percent below expectations.
But state tax revenues still totaled nearly half a billion dollars more this November than the same month a year ago.