The state of California brought in more money than expected in August, after lagging behind in the four months prior.
The California Controller’s office reports revenues came in 5 percent above projections in the state budget.
Controller Betty Yee says because of the way the state calculates taxes, the amount of revenue can fluctuate widely each month.
"Revenues come in at different paces throughout the course of the year, for example we expect huge revenue after the April 15 tax filings and July tends to be a slower month."
Since the fiscal year began in July, the state has received about one percent less cash than projected.
Yee says her office sees a longer-term trend showing that the economy is beginning to plateau.
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.