Budget

DOF’s Latest Finance Bulletin

The California Department of Finance’s latest Monthly Finance Bulletin is out and as usual packed with valuable data, including:

  • General Fund revenues for the first seven months of the 2020-21 fiscal year were $10.5 billion (9.9 percent) above the 2021-22 Governor’s Budget forecast of $106.5 billion, driven largely by Personal Income tax receipts running 12.8 percent above forecast.

  • California’s unemployment rate was 9.0 percent in December compared to a national rate of 6.7 percent.

  • Housing units authorized by building permits averaged 102,800 in 2020, down 8.8 percent from 2019. Multi-family units fell by 18.5 percent while single-family units increased by 0.3 percent. The median home sales price for a single-family home grew by 11.3 percent to an average of $659,380 in 2020.