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SACRAMENTO – State Controller John Chiang on Friday released his monthly report covering California's cash balance, receipts and disbursements in January 2013.
Total revenues for the first month of the calendar year were $4.3 billion above (39.1 percent) estimates found in the governor's proposed 2013-14 state budget.
“Last month's revenues were by far the highest that California has seen in any January for the past decade. Along with increased auto sales, rising home values, and more construction, it signals that California may be entering an era where we can govern outside of crisis,” Chiang said. “However, given our state's troubled history with boom-or-bust revenue cycles, this good news must be tempered with increased fiscal discipline in how we interpret and budget January's collections.”
Personal income taxes in the month of January came in $4.8 billion above (54.7 percent) monthly estimates contained in the governor's latest budget proposal. Corporate taxes came in $11.4 million above (45.5 percent) those monthly estimates, and sales tax receipts came in $582.7 million below (27%) projections.
The state ended the last fiscal year with a cash deficit of $9.6 billion.
As of Jan. 31, that cash deficit totaled $15.7 billion and was covered with $5.7 billion of internal borrowing (temporary loans from special funds), and $10 billion of external borrowing.
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U.S. Reps. Mike Thompson (D-CA), Paul A. Gosar (R – AZ), Joe Heck (R-NV) and Jared Polis (D-CO) on Friday introduced The Public Lands Renewable Energy Development Act, H.R. 596, legislation that streamlines permitting for renewable energy projects on public lands.
“Many of California’s public lands are perfect for responsible renewable energy development, but bureaucracy too often prevents us from capitalizing on this economic engine,” said Thompson. “This bill helps fix that. It will streamline responsible renewable energy projects on public lands, reduce our dependency on foreign oil and put Californians back to work. That’s good for our economy, environment and national security.”
“Arizona can be a model for energy-driven economic recovery in this country, but bureaucratic red tape has gotten in the way. This bill is a part of a comprehensive energy policy that gets the government out of the way, grows our energy sector and spurs job creation,” said Congressman Gosar.
“Renewable energy development on public lands will create jobs and move us closer to energy security, but permits must be processed more efficiently so projects can actually get started,” Rep. Joe Heck said.
“This bill will streamline the approval process so states like Nevada, where more than 80 percent of the state is owned by the federal government, can reap the benefits of renewable projects,” Heck added. “If we truly want to pursue an 'all of the above' national energy strategy, we must develop all energy sources on all possible lands: publically-held lands offer some of the best renewable energy development opportunities. I'm pleased to join this bipartisan group of lawmakers in introducing the Public Lands Renewable Energy Development Act and look forward to working to see it passed.”
“This legislation will ensure that Colorado is at the center of the coming renewable energy boom,” said Congressman Polis. “We know we must grow our economy by producing cheaper, renewable energy and this bill will help the West lead the way.”
Thompson represents California’s Fifth Congressional District, which includes all or part of Contra Costa, Lake, Napa, Solano and Sonoma counties.
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CLEARLAKE OAKS, Calif. – Cache Creek Vineyards’ 2009 Cabernet Sauvignon has received a double gold from the prestigious sixth annual American Fine Wines Competition, held in Florida last week.
With more than 630 wines competing, from not only California but Washington State, New Mexico, Texas, Oregon, Long Island and the Finger Lakes District of New York, Cache Creek Vineyards was extremely pleased to be recognized by the panel of 24 judges.
Also receiving silver medals were the 2009 Petite Sirah and 2011 Reserve Chardonnay.
Just last month, Cache Creek Vineyards was honored by the San Francisco Chronicle Wine Competition with a silver for its 2009 Cabernet Sauvignon and a Silver for its 2011 Reserve Chardonnay.
Cache Creek Vineyards is a small, family-owned, sustainably farmed vineyard nestled in the eastern foothills of scenic Lake County. In 1997, founder, Bill “Poppo” Van Pelt started cultivation of the land and embarked upon his dream of creating not only a beautiful vineyard in which world-class grapes would be grown, but also a safe refuge for the tule elk which roam freely along Cache Creek and throughout the Van Pelt’s land.
Winemaker, Derek Holstein, has been masterfully creating wine for more than 40 years in Napa and Lake counties.
Currently Cache Creek Vineyards produces three varietals: Cabernet Sauvignon, Petite Sirah and Chardonnay. These award-winning wines are available for tasting and purchase at the Lake County Wine Studio, 9506 Main St., Upper Lake, telephone 707-275-8030.
Plans are undere way to begin construction on a own tasting room within the next few months which will be located near the vineyards at the corner of Highway 20 and New Long Valley Road.
Watch their progress at www.cachecreekvineyards.com . You also can visit Cache Creek Vineyards & Winery on Facebook.
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The California Business Roundtable has released a statewide survey of 1,142 large and small business leaders across all regions of California and their perspectives on the state’s jobs and business climate.
The survey is part of the roundtable’s ongoing commitment to provide state policymakers with timely and accurate information for economic policy decisions.
The survey found California business leaders still perceive the state to be facing a stagnant economy, with 62 percent rating California’s economy worse than the rest of the country and 69 percent saying it is harder to do business in California than in other states.
Companies with operations in other states were more optimistic on the economy (54%) than California only companies (39%).
The survey also found that 26 percent say the results of the 2012 election will have a positive impact on expanding investment and jobs in California while 51 percent say it will have a negative impact.
“The overall outlook for 2013 is clearly one of caution regarding jobs and investment with 24 percent of California companies surveyed planning to add jobs, 16 percent planning to cut jobs and 55 percent planning to stay on their current course,” said Rob Lapsley, president of the California Business Roundtable.
“The survey also revealed that large and small business leaders continue to be unified in their viewpoints on the need for additional reforms to improve California’s business climate. Business leaders specifically cited tax reform, government spending reform and litigation reform when asked about the top reforms that would have the most positive impact on the state’s overall economic climate,” said Lapsley.
The poll was commissioned by the California Business Roundtable and conducted by M4 Strategies.
The survey was conducted from Nov. 7 through Dec. 26, 2012, with 1,142 business leaders from both large and small business across the state participating.
A copy of the complete survey results can be viewed at www.cbrt.org .