Business News
MIDDLETOWN, Calif. – The Middletown Area Merchants Association (MAMA) will hold its monthly meeting and mixer on Thursday, July 19.
The general membership meeting will begin at 5:30 p.m. and is being held at the Calpine Visitor's Center, 15500 Central Park Road.
The meeting will be followed by a mixer from 6 p.m. to 7:30 p.m. hosted by The Big Chill Frozen Yogurt Shop in the Coyote Valley Shopping Center, 18990 Coyote Valley Road, Suite 16, in Hidden Valley Lake.
Both the general meeting and mixer are open to the public. Members are encouraged to bring a guest.
For more information, contact Gary Graves at
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SACRAMENTO – State Controller John Chiang on Tuesday released his monthly report covering California’s cash balance, receipts and disbursements in June and for the complete 2011-12 fiscal year.
“The fiscal year ended with solid numbers in June – the State’s largest revenue month – but some revenue streams remain weak,” said Chiang. “California’s economy, like its General Fund Budget, still has a long way to go before it can achieve a full recovery.”
The 2011-12 fiscal year ended with $87.8 billion in receipts and $89.2 billion in disbursements, but that shortfall was $1 billion lower than projected.
In the month of June, total revenues were $247 million (2.2 percent) above projections made in the Governor’s May Revision.
Personal income taxes rose $496.3 million above (7.7 percent) projections, and sales taxes were also up $1.3 million (0.1 percent).
Corporate taxes were down for the month, coming in $305.7 million (-15.5 percent) below projections.
The state ended the fiscal year with a cash deficit of $9.6 billion. That deficit is being covered with internal borrowing (temporary loans from special funds).
A snapshot of monthly revenues and comparisons can now be found on the State Controller’s mobile Web site, www.sco.ca.gov/mobile .
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