SACRAMENTO – State Controller John Chiang today released his monthly report covering California’s cash balance, receipts and disbursements in October 2012, showing that total revenues were $207.9 million above (4.4 percent) projections contained in the 2012-13 State budget.
“October’s numbers were positive, due in large part to strong income tax receipts,” said Chiang. “More importantly, total year-to-date revenue is spot-on with the budget’s projection.”
Personal income taxes in the month of October rose $378.4 million above (10.6 percent) projections, while sales taxes also were up by $28.8 million (4.4 percent) relative to projections. Corporate taxes were down for the month, coming in $131.3 million below (47 percent) projections.
The State ended the last fiscal year with a cash deficit of $9.6 billion. As of October 31, that cash deficit totaled $24.7 billion, and is being covered with $14.7 billion of internal borrowing (temporary loans from special funds), and $10 billion of external borrowing.
For more details on today’s report, read October 2012′s financial statement and summary analysis.
By Fr. Dean McFalls
As a Caucasian American born into the middle class and raised in Seattle, I always considered citizenship, voting, and making a political difference as a foregone conclusion. It never dawned on me that huge sectors of American society might feel themselves isolated, counted-out, or systematically unwelcome in the process of self-determination and of shaping the future of this great democratic nation. Continue reading
STOCKTON, CA - The Stockton City Council approved labor agreements with six of its nine employee labor groups Tuesday, July 24. Continue reading
STOCKTON, CA- The new Stockton Walmart held its grand opening celebration on Wednesday, July 18 at the Spanos Park West shopping district in North Stockton.
“It’s a great pleasure to be here today and welcome the Walmart family to Stockton,” said Stockton Mayor, Ann Johnston at the ceremony.
In a time of financial difficulties for Stockton, having a new major retailer opening its doors will provide sales tax revenue for the city, added Stockton`s Mayor.
Located in 10355 Trinity Parkway, the 212,000-square-foot store brings approximately 380 new jobs to the community.
“I know firsthand of the quality of careers that you can have at Walmart,” said store manager, Larisa Lujan.
“I started with Walmart 13 years ago. I was 18 years old; I came from Ukraine and started as a cashier. My story is not unique; Walmart nationwide embraces everyone and gives them great career opportunities.”
However, the debate if Walmart is a poison or antidote for communities like Stockton continues.
Many worry about the impact Walmart will have on small businesses, other say it will benefit local businesses as additional customers are attracted to the regional shopping area.
Yet shoppers seem to like the “always low prices” and the 24/7 schedule offered by the world’s largest retailer. In fact, just before 8 a.m. some were already lined up outside the doors ready to shop.
“Walmart will be a great community partner with the area’s nonprofits and neighbors,” said Mark Martinez, CEO of the San Joaquin County Hispanic Chamber of Commerce (SJCHC).
During Wednesday`s ribbon cutting ceremony, the Walmart Foundation presented a total of $33,000 in donation money to community organizations. $25, 0000 for the SJCHC Foundation and $8,000 among Stockton Emergency Food Bank, the Greater Yosemite Council Boy Scouts of America and United Way.
“Just this year Walmart gave our Chamber a large grant to help fund our Student Financial Aid and College Awareness Workshop that will help families plan for higher education,” said Martinez.
The Student Financial Aid Workshop is a partnership between the University of Pacific and Stockton Unified School District that hires SJCHC to coordinate volunteers that help students fill out FASFA forms.
SACRAMENTO—Northern California legislators pushed for a delay in the $23 billion water conveyance project through the Sacramento-San Joaquin Delta until more details are available on the state’s revised Bay Delta Conservation Plan (BDCP). Continue reading
STOCKTON, CA — On Thursday, June 28, 2012, the City of Stockton joined an estimated 640 Government entities that have file bankruptcy since 1937: when Chapter 9 Title 11 was enacted into the United States Bankruptcy Code, available exclusively to municipalities. Continue reading
STOCKTON, CA — The Oriental fruit fly quarantine continues in Stockton, agriculture officials say they hope to end it in July. Continue reading
STOCKTON, CA – Hundreds of young men and women ready to enter the labor market visited San Joaquin County WorkNet, on Thursday, May 10th ; as WorkNet held the first “Summer Jobs Fair for Youth” at its Stockton, Tracy, Manteca and Lodi centers. Continue reading
STOCKTON, CA — “We lost 30 thousand workers in the schools both teachers and schools employees. 170,000 school workers across the state have taken furlough days, unpaid days, in order to help with this budget crisis, we rank at the bottom of all 50 states in staff students ratio,” said Rose Roach, Field Director of the River Delta California School Employees Association discussed education and the tax initiatives on the November 2012 ballot. Continue reading
San Joaquin County, CA — Stockton’s traditional Mexican-American Cinco de Mayo parade continues its growth since the mid 1970’s inception. Continue reading
STOCKTON, CA — On February 28, 2012, the Stockton City Council approved moving forward with a confidential neutral evaluation process recently adopted through state legislation, AB 506Stockton Selects Mediator. Continue reading
IR-2012-33, March 13, 2012
WASHINGTON — With business tax-filing deadlines fast approaching, the Internal Revenue Service today encouraged small employers that provide health insurance coverage to their employees to check out the small business health care tax credit and then claim it if they qualify.
Stockton, CA- The City of Stockton was home to the 8th annual REXPO, whose theme this year was “Unplugged,” on March 14, 2012 between the hours of 7:00 AM until 2:00 PM at the Hilton Hotel. The event was hosted by Green Team of San Joaquin, a program of the Stockton Chamber of Commerce.
Editor’s Note: Why is the price of gas spiking? While Republican candidates blame President Obama, energy experts point to global market forces at work—the complications of supply and demand. To get the inside story, New America Media’s Ngoc Nguyen interviewed David Hackett, president of Stillwater Associates, an energy consulting firm specializing in the transportation-fuels market, based in Irvine, Calif. Following are excerpts from her interview.
WASHINGTON –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. Continue reading