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State's July Revenues Fall 10 Percent Short



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(Sacramento, CA)
Tuesday, August 9, 2011
The new state budget relies on four billion dollars in extra revenue - and lays out specific areas for "trigger cuts" if that projection falls short.  The State Controller's office says so far, revenue has fallen short - by more than half a billion dollars last month.
 
If that trend continues and the trigger cuts kick in, the University of California and California State University systems would see deeper cuts, likely resulting in extra tuition increases.  Health care and social programs would lose money too.  And school districts might have to eliminate up to seven days of classes.
 
The decision over whether to pull those triggers won't be made until the end of this year.
 
UPDATE: The governor's Department of Finance says it thinks July revenues may end up being a bit higher than the Controller's office projects.
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