State Controller Launches State Revenue Tracker
March 5, 2018
April is a pivotal month for the state’s overall budget picture as a large number of tax returns are added to the books. As the May Revision nears, the Brown Administration will be watching the numbers closely and now because of the State Controller’s Office (SCO), the public can too. Daily personal income tax receipt totals are available on the SCO’s revenue tracking website.
According to the SCO, by the end of March, personal income tax receipts for the 2017-18 fiscal year totaled $61.9 billion which is 3.1 percent higher than anticipated in the Governor’s January budget proposal. This puts the State in strong economic footing; however, April collections (since they comprise a large put of the budget) are still a key factor in the Governor’s May Revision adjustments.
The Governor’s January budget proposal forecasts an income tax collection amount of $13.5 billion in April. With the SCO revenue tracker, counties can monitor tax collection down to the day. In addition to the daily tally of receipts, the SCO webpage also contains a progress chart that depicts the running total in comparison to the $13.5 billion target.