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SACRAMENTO – State Controller John Chiang this week released his monthly report covering California's cash balance, receipts and disbursements in December 2013.
Revenues for the month totaled $10.6 billion, surpassing estimates in the state budget by $2.3 billion, or 27.7 percent.
Total revenues for the fiscal year-to-date were $2.5 billion ahead (6.4 percent) of budget estimates.
"Revenues for the first of half of the fiscal year are well ahead of estimates and reflect a surging economy fueled by a boom in technology, rising exports, improving consumer confidence, and a new housing upswing," said Chiang. "However, our state's history of boom and bust revenue cycles calls for disciplined spending that emphasizes paying-off debt accumulated throughout the Great Recession. The best way to avoid gut-wrenching cuts tomorrow is to avoid indiscriminate spending today."
December sales tax receipts got a boost resulting from "Black Friday" weekend falling at the very end of the month of November.
As a result of this timing anomaly, approximately $400 million in retail activity that actually took place in November was not officially booked until the first days of December.
Even without this anomaly, sales tax collections exceeded projections by more than $ 700 million. Total sales tax for the month was $1.1 billion above estimates (178.7 percent).
Personal income taxes for December came in $987.5 million above (16.5 percent) estimates. December corporate tax receipts were $188.8 million above estimates (16.5 percent) for the month.
The state ended the month with a general fund cash deficit of $18.3 billion, which was covered with both internal and external borrowing.
That figure was down from last year, when the state faced a cash deficit of $24.2 billion at the end of December 2012.
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CLEARLAKE, Calif. – Did you receive a new smartphone or tablet this holiday season?
For those who recently made the switch to a smartphone or tablet, or simply upgraded their device this past holiday season, U.S. Cellular will offer a free device workshop on Saturday, Jan. 11.
The workshop will take place from 8:30 a.m. to 10 a.m. at 14896 Olympic Drive in Clearlake.
U.S. Cellular associates will help attendees get the most out of the features on their new devices, such as the iPhone 5s or iPad Air.
The workshop is open to both new and existing smartphone and tablet users and attendees do not have to be a U.S. Cellular customer.
“Smartphones were popular gifts this holiday season and ensuring every customer knows how to get the most out of their holiday gifts is just one of the ways we provide the best customer experience,” said Erryn Andersen, director of sales for U.S. Cellular in the Northwest Market.
The iOS, Android, Windows Phone and BlackBerry options offered by U.S. Cellular enable customers to transform a smartphone to a device that meets their exact needs.
These devices, such as the iPhone 5s and iPad Air, allow customers to enjoy faster Web browsing and quick app downloads with access to 4G LTE speeds that are up to 10 times faster than 3G.
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NICE, Calif. – The Lake County Chamber of Commerce will hold an officers and directors installation dinner meeting on Wednesday, Jan. 15.
The meeting will take place at the Sons of Italy hall, 2817 E. Highway 20 in Nice.
Networking will take place beginning at 5:30 p.m., with dinner at 6:30 p.m., followed by the installation of officers and directors.
The cost is $30 per person, which includes entrée choice of Beef Bourguignon or apple almond stuffed chicken breast. Dessert will be Italian cannoli.
For more information contact the Lake County Chamber at telephone 707-263-5092 or RSVP online at http://www.lakecochamber.com/calendar/w/id/13318/event-details.asp .
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SACRAMENTO – The California State Board of Food and Agriculture will be joined by representatives from the California Department of Water Resources (DWR) and State Water Resources Control Board to discuss water transfers and drought preparedness.
This meeting will be held from 10 a.m. to 3 p.m. at the California Department of Food and Agriculture, 1220 'N' Street – Main Auditorium, Sacramento.
“California's farmers and ranchers need to prepare for a potentially significant drought year,” said CDFA Secretary Karen Ross. “We are looking at scenarios in which considerable land fallowing and unsustainable groundwater overdraft will occur – leading to direct impacts within our rural farming communities. CDFA is partnering with federal and state government agencies to provide further information on drought preparedness for the agricultural sector.”
In November, initial allocation levels were released for the State Water Project providing a five percent allocation for water contractors. This initial allocation is among the lowest on record, duplicating the initial allocation level following California's most recent drought (2007-2009).
In addition, nine of California's 12 major reservoirs are below 50 percent capacity – including Lake Shasta (37 percent), Lake Orville (37 percent), San Luis(29 percent) and Folsom Lake (20 percent).
DWR reports that about half of California's statewide precipitation occurs December through February, with three-quarters occurring November through March.
Invited speakers include: Bill Croyle, California Department of Water Resources; Tom Howard, State Water Resources Control Board; Paul Fujitani, U.S. Bureau of Reclamation, Mid-Pacific Region; David Guy, Northern California Water Association; Jason Peltier, Westlands Water District; Luana Kiger, USDA Natural Resources Conservation Service; Navdeep Dhillon, USDA Farm Service Agency; Randy Fiorini, Delta Stewardship Council and Thad Bettner, Glenn-Colusa Irrigation District.
“We are sounding the alarm on behalf of the agricultural industry,” said Craig McNamara, president of the California State Board of Food and Agriculture. “With the strong potential that California is entering its third dry year, we need to start planning now to minimize long-term impacts. I remain hopefully that the next few months will bring much-needed precipitation, but planning for the future must begin today.”
The California State Board of Food and Agriculture advises the governor and the CDFA secretary on agricultural issues and consumer needs. The state board conducts forums that bring together local, state and federal government officials, agricultural representative and citizens to discuss current issues of concern to California agriculture.
This meeting will be streamed online at www.cdfa.ca.gov/LiveMediaStream.html .
Follow the board on Twitter at www.twitter.com/Cafood_agboard .
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