State Controller Reports September Receipts Beat Budget Projections by $2.9 Billion
SACRAMENTO — State Controller Malia M. Cohen released California's September 2026 cash report on October 12, showing General Fund receipts of $22.9 billion for the month, exceeding projections in the 2026-27 Budget Act by $2.9 billion, or 14.4 percent.
Collections beat estimates across all three major taxes: corporation tax came in $1.4 billion, or 52.1 percent, above projections; personal income tax was $1.1 billion, or 8.0 percent, above; and retail sales and use tax exceeded expectations by $156 million, or 5.5 percent. Disbursements also outpaced projections: year-to-date disbursements through September were $11.8 billion, or 13.3 percent, above estimates, with state operations spending $4.3 billion (29.4 percent) over and local assistance $4.1 billion (6.2 percent) over. As of September 30, the General Fund had $326.4 million in accumulated outstanding internal borrowing.
"California's revenues are running ahead of expectations, and that is encouraging news. But higher revenues do not tell the whole story. State spending is also exceeding projections, and we cannot lose sight of the fiscal challenges ahead," Cohen said, adding that the state must remain disciplined and protect its reserves. (GSM, from the State Controller's Office release PR26:27 via PR Newswire, Oct. 12)
Published by GSM · USA (original Chinese edition)
Photo: 图：加州主计长 Malia Cohen 官方肖像（公共领域）。
