LOS ANGELES - California revenues for April came in at $13.9 billion, surpassing estimates in Gov. Jerry Brown's budget, according to a report from State Controller John Chiang.
Revenues beat expectations by $303 million, or 2.2%, for the month, according to the controller's monthly report, released Thursday. That compares to last year when April revenues came in $1.1 billion below estimates.
For the year-to-date, revenues have beat estimates by $2.17 billion, or 2.8%.
"A resurgent economy, combined with voter-approved tax increases, has boosted California's fortunes by the tune of an additional $2 billion," Chiang said in a statement. "This good news will feed the temptation to spend, but that should be tempered by two absolute certainties: boom revenue cycles are always followed by times of exasperation; and years of accumulated debt and unfunded liabilities must be effectively managed if California hopes for long-term prosperity."
Income tax collections in April, at $10.53 billion, came in $82.9 million ahead of estimates, or 0.8%. Last year, those revenues came in $1.5 billion below estimates.
Corporate taxes also beat estimates by $179.6 million, or 11.9%.
Sales tax collections were the only major revenue source to lag projections, coming in $15.4 million, or 2.3%, below estimates.