STATEMENT Of GENERAL FUND CASH RECEIPTS And

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May 2021STATEMENT of GENERAL FUNDCASH RECEIPTS and DISBURSEMENTSBETTY T. YEECalifornia State Controller

BETTY T. YEECalifornia State ControllerJune 10, 2021Enclosed is the Statement of General Fund Cash Receipts and Disbursements for the period ofJuly 1, 2020, through May 31, 2021. This statement reflects the state’s General Fund cashposition and compares actual receipts and disbursements for the 2020-21 fiscal year to cash flowestimates prepared by the Department of Finance (DOF).The statement is provided in compliance with Provision 5 of Budget Act item 0840-001-0001,using records compiled by the State Controller’s Office. Prior-year actual amounts also aredisplayed for comparative purposes. Attachment A compares actual receipts and disbursementsfor the 2020-21 fiscal year to cash flow estimates published in the 2021-22 May Revision. Thesecash flow estimates are predicated on projections and assumptions made by the DOF inpreparation of the 2021-22 May Revision. Attachment B compares actual receipts anddisbursements for the 2020-21 fiscal year to cash flow estimates prepared by the DOF basedupon the 2020-21 Budget Act.These monthly financial reports are also available online at www.sco.ca.gov on the FinancialReports, Taxes, and Economy page.Please direct any questions relating to this report to Coleen Morrow, Bureau Chief of the StateAccounting and Reporting Division, Bureau of Cash Management, at (916) 327-1751.Sincerely,Original signed byBETTY T. YEE

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerSTATEMENT OF GENERAL FUND CASH RECEIPTS AND DISBURSEMENTSA Comparison of Actual to 2021-22 May Revision Estimates(Amounts in thousands)July 1 through May 312021ActualGENERAL FUND BEGINNING CASH BALANCE Or Beginning Outstanding Loan Balance (g)Add Receipts:RevenuesNonrevenuesTotal ReceiptsLess Disbursements (c):State OperationsLocal AssistanceCapital OutlayNongovernmentalReceipts Over / (Under) DisbursementsNet Increase / (Decrease) in Temporary LoansGENERAL FUND ENDING CASH BALANCESpecial Fund for Economic UncertaintiesTOTAL CASHEstimate (a)- - 5,667---37,959,73294,440,896(19,414)9,921,890Total Disbursements2020Actual Over or(Under) EstimateAmount%(j) 34,717,809 26,512,142 8,205,667 910,2908,310,42247,911,204 1,688,6688,310,42241,832,000 (778,378) (i)6,079,204 5,398,0691.04.6124,146,2111,807,7691.3125,953,980- - 16,516,42250,778,663BORROWABLE RESOURCESSpecial Fund for Economic UncertaintiesBudget Stabilization AccountOther Internal Sources (f)Cash Balance from Borrowable ResourcesLess:PMIA Loans (AB 55, GC 16312 and 16313)SMIF Loans (SB 84, GC 20825)SMIF Loans (AB 1054, PUC 3285)Total Available Borrowable Resources (e)Outstanding Loans to General Fund (b)/(g)Outstanding Loans to the SFEU FundUNUSED BORROWABLE - 51,141,7435,300,826(158,154)(609,673) (k)6,068,653- 45,073,090 5255,041,5012,000,00013.5-59,678,05915,642,28413.5 44,035,775General Note:This report is based upon funded cash. Funded cash is cash reported to and recorded in the records of the State Controller's Office. Amounts reported as funded cash maydiffer from amounts in other reports to the extent there are timing differences in the recording of in-transit items.Footnotes:(a)A Statement of Estimated Cash Flow for the 2020-21 fiscal year was prepared by the Department of Finance for the 2021-22 May Revision. Any projections orestimates are set forth as such and not as representation of facts. (Footnote pertains to all pages in this report)(b)Outstanding loan balance of 0.00 billion is comprised of 0.00 billion of internal borrowing. Current balance is comprised of 20.05 billion carried forward from June30, 2020, plus current year Net Increase/(Decrease) in Temporary Loans of ( 20.05) billion. (Footnote ties to page A1; Outstanding Loans to General Fund)(c)If shown, negative amounts are the result of repayments received that are greater than disbursements made. (Footnote ties to pages A1 and A3; Disbursements)(d)Debt Service amounts are net of offsets such as federal subsidies and reimbursements from other sources. To the extent that these offsets do not occur whenanticipated, there can be variances between actuals and estimates on a month-to-month basis. (Footnote ties to page A3; Debt Service)(e)Cash Balance from Borrowable Resources has been reduced by Pooled Money Investment Account (PMIA) loans pursuant to Assembly Bill (AB) 55 (Chapter 6/1987,Government Code (GC) sections 16312 and 16313) and Surplus Money Investment Fund (SMIF) loans pursuant to Senate Bill (SB) 84 (Chapter 50/2017, GC section20825) and AB 1054 (Chapter 79/2019, Public Utilities Codes (PUC) section 3285). (Footnote ties to page A1; Total Available Borrowable Resources)(Continued on A2)- A1 -

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerSCHEDULE OF CASH RECEIPTS(Amounts in thousands)July 1 through May 312021Actual Over orEstimate (a)(Under) EstimateAmountMonth of May20212020Actual2020Actual%REVENUESAlcoholic Beverage Excise TaxCorporation TaxCigarette TaxEstate, Inheritance, and Gift TaxInsurance Companies TaxPersonal Income TaxRetail Sales and Use TaxesVehicle License FeesPooled Money Investment InterestNot Otherwise ClassifiedTotal Revenues 06,725 755,981 7,8492148,7161,439,482 8,516156,4891,408,113 11,685581,098(287)(197,993)896,282 .0)2.2 3,454337,863406,452NONREVENUESTransfers from Special Fund forEconomic UncertaintiesTransfers from Other FundsMiscellaneousTotal NonrevenuesTotal Receipts873,133 21,212,58060,342 8,080,46219,354,775 197,069,60318,504,891 194,546,003 (h)(i)849,8844.62,523,6001.31,807,769 125,953,980(Continued from A1)(f)Other Internal Sources balance includes 450.0 million for the Safety Net Reserve Fund pursuant to AB 1830 (Chapter 42/2018, Welfare and Institutions Code (WIC) section11011). (Footnote ties to page A1; Other Internal Sources)(g)The General Cash Revolving Fund (GCRF) disbursements have been combined with the General Fund for reporting purposes because they represent major General Fundtype activities. Amounts that were paid by the GCRF in April, May, June, and July 2020 were reimbursed by the General Fund in July 2020. (Footnote ties to page A1;Outstanding Loans to General Fund)(h)Includes transfers from Special Fund for Economic Uncertainties for unanticipated disaster response for wildfires. (Footnote ties to page A2; Transfer from Special Fund forEconomic Uncertainties)(i)This amount includes approximately 1.66 billion for COVID expenditures for February through May. (Footnote ties to page A1; Borrowable Resources - Special Fund forEconomic Uncertainties and A2; Transfer from Special Fund for Economic Uncertainties)(j)On March 17, 2021, the IRS tax filing date was extended to May 17th, pursuant to IR-2021-59. Subsequently, the FTB extended the California State Personal Income Tax(PIT) filing to May 17th. The PIT revenue includes 1.99 billion for Golden State Stimulus payments, pursuant to Senate Bill 88. (Footnote ties to page A1; Revenue and A2;Personal Income Tax)(k)Includes SB 84 estimated principal loan repayment to SMIF for 680.0 million and will be adjusted in fiscal year 2021-22. (Footnote ties to page A1; SMIF Loans (SB 84, GC20825))(Concluded)- A2 -

Betty T. Yee, California State ControllerStatement of General Fund Cash Receipts and DisbursementsSCHEDULE OF CASH DISBURSEMENTS(Amounts in thousands)July 1 through May 312021Actual Over orEstimate (a)(Under) EstimateAmount%Month of May20212020Actual2020ActualSTATE OPERATIONS (c)Legislative/Judicial/Executive Business, Consumer Services and HousingTransportationResourcesEnvironmental Protection AgencyHealth and Human Services:Health Care Services and Public HealthDepartment of State HospitalsOther Health and Human ServicesEducation:University of CaliforniaState Universities and CollegesOther EducationDept. of Corrections and RehabilitationGovernmental OperationsGeneral GovernmentPublic Employees' RetirementSystemDebt Service (d)Interest on LoansTotal State Operations344,18623,0808,413170,91668,100 (66,074)4,84829188,18124,352 2,949,09294,18260,9892,532,259444,667 2,795,743126,24734,5962,470,317639,282 .5(30.4) ,602(4,819,706)(4.9)95,500,411LOCAL ASSISTANCE (c)Public Schools - K-12Community CollegesDebt Service-School Building BondsState Teachers' Retirement SystemOther EducationSchool Facilities AidDept. of Corrections and RehabilitationDept. of Alcohol and Drug ProgramHealth Care Services and Public Health:Medical Assistance ProgramOther Health Care Services/Public HealthDevelopmental Services - Regional CentersDepartment of State HospitalsDept. of Social Services:SSI/SSP/IHSSCalWORKsOther Social ServicesTax ReliefOther Local AssistanceTotal Local AssistanceSee notes on page A1 and A2.(Continued)- A3 -

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerSCHEDULE OF CASH DISBURSEMENTS (Continued)(Amounts in thousands)July 1 through May 312021Actual Over orMonth of May20212020ActualEstimate (a)(Under) EstimateAmountCAPITAL OUTLAY 21.5)10.6-200,941NONGOVERNMENTAL (c)Transfer to Special Fund forEconomic UncertaintiesTransfer to Budget Stabilization AccountTransfer to Other FundsTransfer to Revolving FundAdvance:MediCal Provider Interim PaymentState-County Property TaxAdministration ProgramSocial Welfare Federal FundLocal Governmental EntitiesTax Relief and Refund AccountCounties for Social 60,1487,252219,381-----(104,058)(687)-Total NongovernmentalTotal )(276,476)7,774,6831.2 7,260,552 9,328,791 142,303,104 147,985,171 (5,682,067)(3.8) 146,994,333 - 1,248,328- (252)(16,516,422)(3,532,016)- (253)(16,516,421)(3,532,016)- 1(1)-(0.4)0.0- 15,642,284- - 1,248,328 (20,048,690) (20,048,690) -- 15,642,284TEMPORARY LOANSSpecial Fund for EconomicUncertaintiesBudget Stabilization AccountOutstanding Registered Warrants AccountOther Internal SourcesRevenue Anticipation NotesNet Increase / (Decrease) LoansSee notes on page A1 and A2.- A4 -

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerCOMPARATIVE STATEMENT OF REVENUES RECEIVEDAll Governmental Cost Funds(Amounts in thousands)2021General FundJuly 1 through May 3120202021Special Funds2020MAJOR TAXES, LICENSES, ANDINVESTMENT INCOME:Alcoholic Beverage Excise TaxesCorporation TaxCigarette TaxCannabis Excise TaxesEstate, Inheritance, and Gift TaxInsurance Companies TaxMotor Vehicle Fuel Tax:Gasoline TaxDiesel & Liquid Petroleum GasJet Fuel TaxVehicle License FeesPersonal Income TaxRetail Sales and Use TaxesPooled Money Investment Interest Total Major Taxes, Licenses, andInvestment Income376,98120,480,75054,463752,584,400 381,5858,601,23657,5992532,641,532 1,763,422734,917(1,769) 54,24324,359,189NOT OTHERWISE CLASSIFIED:Alcoholic Beverage License FeesMotor Vehicle Registration andOther FeesCannabis Licensing FeesElectrical Energy TaxPrivate Rail Car TaxPenalties on Traffic ViolationsHealth Care ReceiptsRevenues from State LandsAbandoned PropertyTrial Court RevenuesHorse Racing FeesCap and TradeMiscellaneous Tax RevenueMiscellaneousNot Otherwise ClassifiedTotal Revenues,All Governmental Cost Funds 177,714,828- A5 - 124,146,211 57,546,462 52,361,724

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerSTATEMENT OF GENERAL FUND CASH RECEIPTS AND DISBURSEMENTSA Comparison of Actual to 2020-21 Budget Act(Amounts in thousands)July 1 through May 312021ActualGENERAL FUND BEGINNING CASH BALANCE Or Beginning Outstanding Loan Balance (g)Add Receipts:RevenuesNonrevenuesTotal ReceiptsLess Disbursements (c):State OperationsLocal AssistanceCapital OutlayNongovernmental- 008,92654,766,499(20,048,690)GENERAL FUND ENDING CASH BALANCESpecial Fund for Economic Uncertainties- Actual20,048,690142,303,104Receipts Over / (Under) DisbursementsNet Increase / (Decrease) in Temporary LoansTOTAL CASHEstimate (a)37,959,73294,440,896(19,414)9,921,890Total Disbursements2020Actual Over or(Under) 4)34,717,809-34,717,809--- 34,717,809 - 34,717,809 910,2908,310,42247,911,204 2,615,8858,310,42239,261,000 (1,705,595) (j)8,650,204 ,284-- - 16,516,42250,778,663BORROWABLE RESOURCESSpecial Fund for Economic UncertaintiesBudget Stabilization AccountOther Internal Sources (f)Cash Balance from Borrowable ResourcesLess:PMIA Loans (AB 55, GC 16312 and 16313)SMIF Loans (SB 84, GC 20825)SMIF Loans (AB 1054, PUC 3285)Total Available Borrowable Resources (e)Outstanding Loans to General Fund (b)/(g)Outstanding Loans to the SFEU FundUNUSED BORROWABLE 04 51,141,7436,944,609(158,154)(1,272,673) (l)1,580,000 (h)6,795,436(12,562,704) 31,783,603 28460.9 44,035,775General Note:This report is based upon funded cash. Funded cash is cash reported to and recorded in the records of the State Controller's Office. Amounts reported as funded cash maydiffer from amounts in other reports to the extent there are timing differences in the recording of in-transit items.Footnotes:(a)A Statement of Estimated Cash Flow for the 2020-21 fiscal year was prepared by the Department of Finance for the 2020-21 Budget Act. Any projections or estimatesare set forth as such and not as representation of facts. (Footnote pertains to all pages in this report)(b)Outstanding loan balance of 0.00 billion is comprised of 0.00 billion of internal borrowing. Current balance is comprised of 20.05 billion carried forward from June30, 2020, plus current year Net Increase/(Decrease) in Temporary Loans of ( 20.05) billion. (Footnote ties to page B1; Outstanding Loans to General Fund)(c)If shown, negative amounts are the result of repayments received that are greater than disbursements made. (Footnote ties to pages B1 and B3; Disbursements)(d)Debt Service amounts are net of offsets such as federal subsidies and reimbursements from other sources. To the extent that these offsets do not occur whenanticipated, there can be variances between actuals and estimates on a month-to-month basis. (Footnote ties to page B3; Debt Service)(e)Cash Balance from Borrowable Resources has been reduced by Pooled Money Investment Account (PMIA) loans pursuant to Assembly Bill (AB) 55 (Chapter 6/1987,Government Code (GC) sections 16312 and 16313) and Surplus Money Investment Fund (SMIF) loans pursuant to Senate Bill (SB) 84 (Chapter 50/2017, GC section20825) and AB 1054 (Chapter 79/2019, Public Utilities Codes (PUC) section 3285). (Footnote ties to page B1; Total Available Borrowable Resources)(Continued on B2)- B1 -

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerSCHEDULE OF CASH RECEIPTS(Amounts in thousands)July 1 through May 312021Actual Over orEstimate (a)(Under) EstimateAmountMonth of May20212020Actual2020Actual%REVENUESAlcoholic Beverage Excise TaxCorporation TaxCigarette TaxEstate, Inheritance, and Gift TaxInsurance Companies TaxPersonal Income TaxRetail Sales and Use TaxesVehicle License FeesPooled Money Investment InterestNot Otherwise ClassifiedTotal Revenues 06,725 755,981 7,8492148,7161,439,482 51236,1912,144,497 25,0353,632,0542,7697558,77140,799,415 7.0)(32.9) ,454337,863406,452NONREVENUESTransfers from Special Fund forEconomic UncertaintiesTransfers from Other FundsMiscellaneousTotal NonrevenuesTotal Receipts873,133 21,212,58060,342 8,080,46219,354,775 197,069,603 (i)13,199,3786,155,39746.6142,060,677 55,008,92638.71,807,769 125,953,980(Continued from B1)(f)Other Internal Sources balance includes 450.0 million for the Safety Net Reserve Fund pursuant to AB 1830 (Chapter 42/2018, Welfare and Institutions Code (WIC) section11011). (Footnote ties to page B1; Other Internal Sources)(g)The General Cash Revolving Fund (GCRF) disbursements have been combined with the General Fund for reporting purposes because they represent major General Fundtype activities. Amounts that were paid by the GCRF in April, May, June, and July 2020 were reimbursed by the General Fund in July 2020. (Footnote ties to page B1;Outstanding Loans to General Fund)(h)The AB 1054 Wildfire Loan was expected to be repaid in November 2020 from proceeds of a bond sale, which did not occur. (Footnote ties to page B1; SMIF Loans (AB 1054,PUC 3285))(i)Includes transfers from Special Fund for Economic Uncertainties for unanticipated disaster response for wildfires. (Footnote ties to page B2; Transfer from Special Fund forEconomic Uncertainties).(j)The 2020-21 Budget Act estimated 2.62 billion in Transfers to Special Fund for Economic Uncertainties in January 2021, which did not occur until February 2021.This amountincludes approximately 1.66 billion for COVID expenditures for February through May. (Footnote ties to page B1; Borrowable Resources - Special Fund for EconomicUncertainties and B4; Transfer to Special Fund for Economic Uncertainties)(k)On March 17, 2021, the IRS tax filing date was extended to May 17th, pursuant to IR-2021-59. Subsequently, the FTB extended the California State Personal Income Tax (PIT)filing to May 17th. The PIT revenue includes 1.99 billion for Golden State Stimulus payments, pursuant to Senate Bill 88. (Footnote ties to page A1; Revenue and A2;Personal Income Tax)(l)Includes SB 84 estimated principal loan repayment to SMIF for 680.0 million and will be adjusted in fiscal year 2021-22. (Footnote ties to page B1; SMIF Loans (SB 84, GC20825))(Concluded)- B2 -

Betty T. Yee, California State ControllerStatement of General Fund Cash Receipts and DisbursementsSCHEDULE OF CASH DISBURSEMENTS(Amounts in thousands)July 1 through May 312021Actual Over orEstimate (a)(Under) EstimateAmount%Month of May20212020Actual2020ActualSTATE OPERATIONS (c)Legislative/Judicial/Executive Business, Consumer Services and HousingTransportationResourcesEnvironmental Protection AgencyHealth and Human Services:Health Care Services and Public HealthDepartment of State HospitalsOther Health and Human ServicesEducation:University of CaliforniaState Universities and CollegesOther EducationDept. of Corrections and RehabilitationGovernmental OperationsGeneral GovernmentPublic Employees' RetirementSystemDebt Service (d)Interest on LoansTotal State Operations344,18623,0808,413170,91668,100 (66,074)4,84829188,18124,352 2,949,09294,18260,9892,532,259444,667 1,730,01648,67714,9382,010,6261,023,079 25.9(56.5) 62894,440,89691,205,5293,235,367LOCAL ASSISTANCE (c)Public Schools - K-12Community CollegesDebt Service-School Building BondsState Teachers' Retirement SystemOther EducationSchool Facilities AidDept. of Corrections and RehabilitationDept. of Alcohol and Drug ProgramHealth Care Services and Public Health:Medical Assistance ProgramOther Health Care Services/Public HealthDevelopmental Services - Regional CentersDepartment of State HospitalsDept. of Social Services:SSI/SSP/IHSSCalWORKsOther Social ServicesTax ReliefOther Local AssistanceTotal Local Assistance3.595,500,411See notes on page B1 and B2.(Continued)- B3 -

Statement of General Fund Cash Receipts and DisbursementsBetty T. Yee, California State ControllerSCHEDULE OF CASH DISBURSEMENTS (Continued)(Amounts in thousands)July 1 through May 312021Actual Over orMonth of May20212020ActualEstimate (a)(Under) EstimateAmountCAPITAL OUTLAY ONGOVERNMENTAL (c)Transfer to Special Fund forEconomic UncertaintiesTransfer to Budget Stabilization AccountTransfer to Other FundsTransfer to Revolving FundAdvance:MediCal Provider Interim PaymentState-County Property TaxAdministration ProgramSocial Welfare Federal FundLocal Governmental EntitiesTax Relief and Refund AccountCounties for Social Welfare219,381--(104,058)(687)-Total NongovernmentalTotal ,033)(302,866)7,1555,277,552 ,033)-4,951,188 7,260,552 9,328,791 142,303,104 - 1,248,328- (252)(16,516,422)(3,532,016)- - 1,248,328 (20,048,690) -4,970,702100.4 7,728,4135.72,615,885(8,206,000)(1,895,871)- (2,616,137)(8,310,422)(1,636,145)-(7,485,986) )7,774,683 146,994,333(100.0)101.386.3- 15,642,284-167.8 15,642,284TEMPORARY LOANSSpecial Fund for EconomicUncertaintiesBudget Stabilization AccountOutstanding Registered Warrants AccountOther Internal SourcesRevenue Anticipation NotesNet Increase / (Decrease) LoansSee notes on page B1 and B2.- B4 -

Jun 10, 2021 · Enclosed is the Statement of General Fund Cash Receipts and Disbursements for the period of July 1, 2020, through May 31, 2021. This statement reflects the state’s General Fund cash position and compares actual receipts and disbursements for the 2020-21 fiscal year to cash flow estimates prepared by the Department of Finance (DOF).

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