General Fund revenues are expected to be $101.190 billion in 2007-08 and $102.987 billion in 2008-09. This represents a decrease of $40 million in 2007-08 and an increase of $83 million in 2008-09 compared to the Governor's January Budget. These revenues include $11.7 billion in revenue solutions proposed to close the budget gap - $3.3 billion in 2007-08 from the sale of authorized Economic Recovery Bonds, $1.9 billion from a change in accrual accounting, $5.1 billion of lottery proceeds in 2008-09 from the proposed fund transfer from the Revenue Stabilization Fund to the General Fund, and $1.4 billion in other initiatives. In the absence of these revenue solutions, 2007-08 revenues would be $97.7 billion and 2008-09 revenues would be $94.8 billion. Thus, revenues would grow by 2.4 percent in 2007-08 and decline by 3.0 percent in 2008-09.
Figure REV-01 displays the forecast changes between Governor's Budget and May Revision.
CHAPTER HIGHLIGHTS for
Revenue Estimates Back to Top
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - Revenue Estimates (pdf * - 155K)
Provides the entire Revenue Estimates Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Summary - Revenue Estimates (January 2008)
Displays Proposed Budget Summary information for Revenue Estimates.