Controller Malia M. Cohen Issues November Cash Report
LA TimesCalifornia State Controller Malia M. Cohen has released her monthly cash report covering the state’s General Fund revenues, disbursements and actual cash balance for the fiscal year through November 30, 2024. “California’s revenue receipts for the fiscal year continue to trend above budget projections, but on the spending side of the ledger, expenditures have been higher than expectations,” said Controller Cohen. “However, the more than $93 billion of available cash on hand in the treasury ensures the state will make good on all of its payments even though expenditures currently exceed budget estimates.” As of November 30, the state had $93.2 billion in unused borrowable resources. These resources are from internal funds outside of the General Fund that are borrowable under state law and that the State Controller’s Office uses to manage daily and monthly cash deficits when revenue collections are lower than expenditures.
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