State Controller Reports More Money

The state controller has just released his data on cash receipts for 2012-13 through May.  As it turns out, the month of May brought in more cash than forecast in the governor’s May revise, just under $800 million more.  This outcome will add fuel to the conflict between the governor and the legislature as to how much revenue to project for 2013-14.  The governor has argued that much of the extra money that has come in this year is a one-time capital gains result that cannot be assumed to continue.

As our previous post noted, the legislature is due to produce a budget by Saturday.  But it may not be one that is in accord with the governor’s desires.  The governor could veto the budget or use his line-item veto on it.  In theory, the legislature could override the governor although some Democrats might be reluctant to do so.

You can find the controller’s cash statement at

In the meantime, with the new numbers, the legislative Democrats are likely to be celebrating the fact that there is more: