California revenues in February fell short of projections again in Gov. Jerry Brown’s proposed budget, according to state agencies.
State Controller John Chiang this week said February revenues fell 3.2%, or $1.46 million, below estimates.
The controller said the shortfall was likely caused by a large rise in early tax refunds going out during the month.
The Department of Finance, which is under the governor, also reported this week that revenues came in $22 million below Brown’s budget forecast of $3.25 billion.
It said year-to-date revenues are down $676 million.
Finance officials said refunds came in $253 million higher than expected.
The department and the controller use different methodologies.
State officials are awaiting the revenue numbers from March and April when more tax receipts come in, which will help give a more accurate picture for the year.
Earlier this year, the state’s Legislative Analyst’s Office said the governor’s proposed budget had overly optimistic revenue projections.