SACRAMENTO – State Controller John Chiang has released his monthly report covering California’s cash balance, receipts and disbursements in June.

The month’s revenues were below the governor’s May revision estimates by $54.6 million, or 0.5 percent.

“California’s cash position is stable today, but that could be short-lived,” said Chiang. “The governor and Legislature’s lack of urgency in adopting an honest budget could pave the way to a completely avoidable cash crisis later this year.”

Personal income tax revenues were $333 million better (6.1 percent) than anticipated. Corporate taxes were down $156 million (-7.5 percent) and sales taxes dropped $153 million (-5.7 percent).

Expenditures were running $1.36 billion behind estimates through June 30. The state’s $9.9 billion cash deficit is being covered entirely by internal borrowing.

June's financial statement and the summary analysis can found on the Controller’s Web site at www.sco.ca.gov.