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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 2012.
After accounting for timing issues related to sales tax deposits, December’s totals were $103.4 million above (1.1 percent) estimates found in the 2012-13 state budget.
“While December’s figures were distorted by timing issues, the month’s revenues closely match budget projections and offer further evidence that California’s economy is slowly mending,” said Chiang.
December’s sales tax receipts were affected by a large timing issue at the end of the calendar year. While $1 billion of sales tax was deposited into the Board of Equalization’s bank account on December 31, those dollars were not transferred to the General Fund for another two days.
Because the controller’s monthly cash report shows general fund balances reported by close of business on Dec. 31, the $1 billion of late-deposited December sales tax dollars will instead appear in January’s report. Without accounting for this timing issue, total revenues fell $896.6 million below (-9.6 percent) monthly estimates.
Personal income taxes in the month of December came in $767.6 million above (13.4 percent) monthly estimates contained in the 2012-13 state budget. Corporate taxes came in $445.9 million below (-31.2 percent) those monthly estimates.
The state ended the last fiscal year with a cash deficit of $9.6 billion.
As of Dec. 31, that cash deficit totaled $24.2 billion and was covered with $14.2 billion of internal borrowing (temporary loans from special funds), and $10 billion of external borrowing.
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MIDDLETOWN, Calif. – The Middletown Area Merchants Association will hold its monthly meeting and mixer on Tuesday, Jan. 15.
The meeting will be held at 8 a.m. at the HUM Cooperative Center in the Middletown Plaza at 21037 Calistoga St. in Middletown.
This month’s mixer will be hosted by and held at Empire Mini Storage, 18845 Highway 29, between Hidden Valley Lake and Middletown, from 5:30 p.m. to 7:30 p.m.
All meetings and mixers are open to the public.
For more information contact Gary Graves at
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SACRAMENTO – Since 1854, the California State Fair has showcased the progress and advancements of the State’s agricultural industry.
Public interest and knowledge has grown because of the extraordinary contributions of certain individuals and businesses committed to advancing this mission and benefiting the State Fair as a whole.
In celebration of these accomplishments, the California State Fair annually presents a series of prestigious awards.
Agriculturalist of the Year
The Agriculturalist of the Year award is presented to an individual who has contributed extensively, in a professional capacity, to California’s agricultural industry.
Award criteria stipulates this individual must have demonstrated leadership and clearly represented the industry over a number of years in one or more of the following areas: finance, government, production agriculture, education, labor, research, communications, trade and public service.
The California State Fair first began presenting this award in 1980. Most recent awardees include former United States Department of Agriculture Secretary Ann M. Veneman (2003), Al Montna (2004), George Gomes (2005), John Harris (2006), Len Richardson (2007), Bill Pauli (2008), Ron Schuler (2009) and Bill Lyons, Jr. (2010), Robert “Bob” Gilbert (2011) and A.G. Kawamura (2012).
Agricultural Progress Award
The Agricultural Progress Award was established in 1994 to recognize individuals or an organization that has contributed extensively over a number of years to the promotion, advancement and growth of the State Fair Agricultural Programs.
Most recent recipients include the following: Wendy Hall (2005), Richard Breitmeyer (2006), Leonard Bianchi (posthumous recognition) (2007), Robert Dowell, PhD (2007), University of California, Davis (2008); Solano County State Fair Exhibit Team (2009), Sacramento County U.C. Cooperative Extension Master Gardener Program (2010) and Blue Diamond Growers (2010).
Nomination Forms and supporting documents for Agriculturalist of the Year Award and Agricultural Progress Award must be emailed, faxed, postmarked or hand delivered by Friday, January 25, 2013 to:
Tomme Jo Dale, Ag Programs Manager
California Exposition & State Fair
P.O. Box 15649, Sacramento, CA 95852
Phone: (916) 263-3109 phone – Fax (916) 263-7903
Email:
Golden Bear Award
The Golden Bear Award acknowledges individuals and businesses that have furthered the State Fair’s mission of showcasing California’s economic and cultural diversity, and have rendered meritorious service and support to the California State Fair.
This prestigious award was first presented in 1977. The recipient may be a private citizen or representative of any industry in the public or private sector.
Most recent winners include: The California Milk Advisory Board (2006), the California Future Farmers of America (FFA) & 4-H (2007), Sacramento Magazine (2008), Willie Pelote (2009), California Cattlemen’s Association (2010), Ralph Petty (2010), Harry Moos – Friends of the California State Fair (2011) and Earl “Butch” Butler (2012).
Nomination Forms and supporting documents for the Golden Bear Award must be mailed, faxed or emailed to the following contact by Friday, March 1, 2013 to:
Rick Pickering, General Manager/CEO
California Exposition & State Fair
Golden Bear Award Nomination
P.O. Box 15649, Sacramento, CA 95852
Fax: (916) 263-3304
Email:
For more information and Agricultural Award Nomination Forms, please visit the State Fair Web site at www.bigfun.org or call 916-263-3109.
The California State Fair will run July 12-28 at Cal Expo in Sacramento.
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California’s gasoline consumption declined 1.3 percent in the third quarter of 2012, according to fuel tax data released by Betty T. Yee, First District Member of the California State Board of Equalization (BOE).
Diesel consumption declined 4.9 percent in the third quarter of 2012.
“Third quarter consumption shows Californian’s usage is still sensitive to the impact of gas and diesel prices on family budgets,” said Yee.
BOE’s fuel tax report shows Californians consumed 3.68 billion gallons of gasoline in the third quarter of 2012, a 1.3 percent decline from the 3.73 billion gallons consumed during the third quarter of 2011.
In California, the average price of gasoline in the third quarter of 2012 was $4.05 per gallon.
Nationally, the average price of gasoline in the third quarter was $3.73, according to the Energy Information Administration (EIA).
In September 2012, California’s gasoline consumption declined 1.4 percent while the average price increased 24 cents to $4.21 per gallon.
California’s diesel consumption declined 4.9 percent in the third quarter of 2012 to 678 million gallons, compared to 713 million gallons in the third quarter of 2011.
In California, the average price of diesel fuel in the third quarter of 2012 was $4.20 per gallon. Nationally, the average price of diesel fuel in the third quarter was $3.94, according to the Energy Information Administration (EIA).
California’s diesel consumption declined 9.4 percent while average diesel prices increased 40 cents in September 2012.
For more information on California fuel statistics or reports based on fuel tax receipts paid by distributors in California, visit www.boe.ca.gov/sptaxprog/spftrpts.htm .
State Taxable Gasoline Gallons Report: www.boe.ca.gov/sptaxprog/reports/MVF_10_Year_Report.pdf .
State Taxable Diesel Gallons Report www.boe.ca.gov/sptaxprog/reports/Diesel_10_Year_Report.pdf .
Board Member Betty T. Yee was elected to her post in November 2006. Her district includes many of California's coastal counties, from Del Norte to Santa Barbara, and includes the entire San Francisco Bay Area.
Yee previously served as chief deputy director for budget at the California Department of Finance, covering a wide array of state and local finance policy matters.
The five-member California State Board of Equalization (BOE) is a publicly elected tax board.
The BOE collects more than $53.7 billion annually in taxes and fees supporting state and local government services. It hears business tax appeals, acts as the appellate body for franchise and personal income tax appeals, and serves a significant role in the assessment and administration of property taxes.
For more information on other taxes and fees in California, visit www.taxes.ca.gov .