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Total revenues in July 2017 were $667.9 million higher than in July 2016. In July, each of the “big three” revenue sources beat expectations.
Personal income tax receipts of $4.74 billion in July were $77.3 million higher than 2017-18 Budget Act estimates.
July corporation tax receipts of $363.5 million were $18.9 million more than anticipated in the budget, or 5.5 percent.
Retail sales and use tax receipts of $899.5 million for July surged $84.6 million, or 10.4 percent, above budget estimates.
Outstanding loans of $8.97 billion in July were $604.5 million less than budget estimates. This loan balance consists of borrowing from the state’s internal special funds. Available borrowable resources were $3.40 billion more than expected.
For more details, read the monthly cash report and this month’s edition of the Controller’s California Fiscal Focus newsletter, which explores the housing crisis and the potential repatriation of American companies’ foreign earnings under tax reform.
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The store is located at 14896 Olympic Drive.
Store hours are 10 a.m. to 7 p.m.
There will be a variety of giveaways for anyone who visits the store and a mobile prize wheel where customers can use their smartphones to spin to win prizes that include accessory discounts, bill credits and other items.
With the sometimes crazy back-to-school shopping season in full swing, everyone is invited to stop by for a fun and unique shopping experience.
“At U.S. Cellular, we truly appreciate our customers, and we want to take this opportunity to express just how much we value them and want them to have a great wireless experience,” said Erryn Andersen, director of sales for U.S. Cellular in the northwest. “We encourage the entire community to visit our store, talk with our associates, and have an enjoyable time while checking out all of the latest technology and great deals available.”
The back-to-school season has historically been one of the busiest shopping periods of the year, and a time when parents think about getting their kids their first cellphone.
According to the National Retail Federation’s 2017 Back-to-School Survey, spending for back-to-school and back-to-college combined is projected to increase 10 percent over 2016 to $83.6 billion.
Additionally, the survey found that 35 percent of back-to-school shoppers intend to purchase a tablet, while 28 percent of back-to-college shoppers plan to purchase a tablet and 21 percent plan to purchase a smartphone in preparation for the school year.
Visit US Cellular’s Web site or Facebook page.
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This bill gives the California Department of Resources and Recycling Recovery, or CalRecycle, greater flexibility in ensuring locals comply with sustainable waste management law while reducing burdens associated with oversight for areas that exceed state requirements.
“California just took a stand against climate change by passing a landmark a Cap and Trade extension,” said Aguiar-Curry. “Sustainable waste management strategies are another way Californians can continue to fight global warming. When we reduce waste and divert organic material from in landfills, we reduce greenhouse gas emissions. AB 1572 ensures CalRecycle is implementing these waste management programs in the most effective way possible.”
Legislation passed in 2016 asks locals to divert 50 percent of all organic waste from landfills by 2020 and 75 percent by 2025.
These ambitious goals are in addition to other existing laws asking local governments to reduce waste at the source, increase recycling efforts, and safely handle hazardous waste.
Collectively, these laws will produce environmentally conscious waste management strategies at the local level.
AB 1572 is an important step in determining how to consolidate state review processes while achieving these sustainability goals.
“Our local partners are committed to sustainable waste management,” said Aguiar-Curry. “We need to make sure compliance review processes are not duplicative or overly burdensome, especially for those who far exceed state goals. I look forward to building on these successful efforts in the future. CalRecycle has been a great partner in achieving these goals.”
This is the second of two bills by Aguiar-Curry that were presented to and signed by the governor.
Aguiar-Curry hopes to keep up this momentum as the 2016-17 Legislative Session heads into its final few weeks.
Aguiar-Curry represents the Fourth Assembly District, which includes all of Lake and Napa Counties, parts of Colusa, Solano and Sonoma Counties, and all of Yolo County except West Sacramento.
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The newly combined credit union boasts – through June 30 – a loan portfolio of $312.5 million, deposits of $414.2 million, and assets of $457.7 million.
The ongoing name will be Community First.
There are 10 branch offices spread among Lake, Mendocino, Napa and Sonoma counties. The cooperative is owned by its 50,777 members, who are served by 126 employees.
Community First CEO, Todd Sheffield, will remain in his post at headquarters in Santa Rosa.
“For the members and employees of the two credit unions, this is a match made in heaven,” said Sheffield. “We took the ‘best of’ approach to loan products, services, rates and fees. If it was better at Mendo Lake, we added it. If it was better at Community First, we kept it. Members should really like what they get,” he continued.
Some of those “gets” for members of the former Mendo Lake include a new checking account that earns them money when they swipe their debit card, a 0-percent loan for local AG students, second mortgages, in-house technology for remote deposits, and deposit rates that nearly double.
For members of Community First they now get access to a suite of credit cards, manufactured home loans, checking and savings accounts for those reentering banking, and an advantageous rate bump on share certificates.
Although the merger was officially completed on July 1, members won’t see much of a difference until Monday, July 31. That’s when the core technologies of the two credit unions will be joined to offer the same full menu of products, programs and pricing.
While the merger brings immediate benefits to its members, it also makes for a stronger, more financially sustainable credit union with the wherewithal “to implement better and broader technological conveniences for our membership,” said Sheffield.
No layoffs occurred, and the credit union is currently looking to hire 10 additional employees, mostly in its mortgage lending unit.
Both credit unions were founded by local teachers: Mendo Lake in 1958; Community First in 1961. Back then it was difficult for teachers to obtain mortgage loans. Banks didn’t trust teachers to make payments during summer months when they weren’t paid. To buy homes, some teachers started credit unions.
To this day the combined credit union stays particularly involved with local schools: special loans for intern-teachers and agriculture students, special saving rates for students, financial literacy presentations, computer donations, scholarships, teacher-of-the-year prizes and more.