The URL can be used to link to this page

Home My WebLink About10.21.20 Email from Brian Ring FW_ SYASL COVID-19 Update From:Ring, Brian To:Alpert, Bruce;Bennett, Robin;Clerk of the Board;Connelly, Bill;Cook, Holly;Lambert, Steve;Lucero, Debra; McCracken, Shari;Paulsen, Shaina;Pickett, Andy;Ring, Brian;Ritter, Tami;Rodas, Amalia;Sweeney, Kathleen; Teeter, Doug Cc:Pickett, Andy;Snyder, Ashley Subject:FW: SYASL COVID-19 Update Date:Wednesday, October 21, 2020 5:41:49 PM Attachments:SYASL COVID-19 Update 10.21.20.pdf Good evening Board – Some interesting information regarding the YTD (and September) State budget revenues. Brian Ring Assistant Chief Administrative Officer Administration 25 County Center Drive, Oroville, CA 95965 From: SYASL County Info <SYASLCountyInfo@SYASLpartners.com> Sent: Wednesday, October 21, 2020 5:19 PM To: SYASL County Info <SYASLCountyInfo@SYASLpartners.com> Subject: SYASL COVID-19 Update ATTENTION: This message originated from outside Butte County. Please exercise judgment before opening .. attachments, clicking on links, or replying. To: County Administrative Officers and Interested Parties From: Paul J. Yoder and Karen Lange Date: October 21, 2020 RE: SYASL COVID-19 Update Please find attached our daily SYASL COVID-19 update. -Paul and Karen COVID-19 Updates www.covid19.ca.gov October 21, 2020 Newsom Administration - Resources / Mutual Aid / Executive Orders Today, Governor Newsom did not provide an update. You may visit covid19.ca.gov for the latest updates. Please check the California Department of Public Health website here for the latest guidance documents. Skilled Nursing Facilities Today, the Assembly announced they will hold an informational hearing: COVID-19 in Skilled Nursing Facilities. This hearing will be held on October 28 at 1:30 p.m. We will share more information as it becomes available. Wildfires October 21, 2020, here. Legislative / Budget News The DOF has released their October Finance Bulletin, view here. Please note, preliminary General Fund agency cash receipts for the first three months of the fiscal year were $8.713 billion above the 2020-21 Budget Act forecast of $45.41 billion. Cash receipts for the month of September were $4.164 billion above the 2020-21 Budget Act forecast of $9.806 billion. -19 here page for updates. The LAO has been releasing a series of reports regarding Federal actions affecting California related to developments around COVID-19. View here. October 2020 Economic Update In the second quarter of 2020, California personal income increased by 9.7 percent on a year-over-year basis (up $254.4 billion) driven by record-high transfer payments of $355.8 billion, including the $600 per week in additional Federal unemployment assistance that expired at the end of July, support for independent contractors, regular unemployment insurance, and one-time stimulus checks. All other major personal income components for California fell on a year-over-year basis in the second quarter of 2020, with a total decline of 4.4 percent (down $101.4 billion) led by decreases in total wages (down other components (down $15.0 billion). U.S. personal income increased by 10.4 percent year-over-year in the second quarter of 2020 (up $1.9 trillion). Transfers also drove personal income growth, up a record-high $2.6 trillion. All other major U.S. personal income components also fell on a year-over-year basis. L ABOR M ARKET C ONDITIONS The U.S. unemployment rate fell from 8.4 percent in August to 7.9 percent in September 2020, 4.4 percentage points above the pre-pandemic level of 3.5 percent in February. The U.S. labor force decreased by 695,000 people in September following a 968,000-increase in August, with 4.4 million fewer Americans in the labor force than in February. The U.S. gained 661,000 jobs in September after 1.5 million jobs were added in August. centage point to 11.0 percent in September, down from a revised--pandemic rate of 3.9 n the labor force in September than in February. The state gained 96,000 nonfarm payroll jobs in September, after adding a monthly average of around 225,000 jobs since May. Payroll jobs in September totaled 16.0 million, down 9.2 percent from February. In September, utilities (30,600), professional and business services (15,700), other services (10,900), construction (3,100), manufacturing (2,600), and information (200). Four industries lost jobs: government (14,600), financial activities (600), educational and health services (400), and mining and logging (200). B UILDING A CTIVITY California housing units authorized by building permits totaled 96,300 units in August (seasonally-adjusted annualized rate), down 16.7 percent from July month-over-month drop was due to multi-family units down 32.3 percent to 36,400 units and a decrease in single- family units of 3.1 percent to 59,900 units. Year-to-date, authorized residential housing units averaged 96,000 (down 11.1 percent from the same period in 2019), split into 52,800 single-family units (down 4.2 percent) and 43,200 multi-family units -billion valuation. Year-to- date, nonresidential building valuation averaged $23.5 billion, down 31.7 percent from the same period in 2019. R EAL E STATE The existing single-family median home sales price in California set a new record for the fourth consecutive month, reaching $712,430 in September. The median home sales price is now up 22.9 percent from the pre-pandemic price in February 2020 and up 17.6 percent from September 2019. Statewide sales volume rose by 5.2 percent month-over-month to 489,590 unitsthe highest sales volume since 498,580 units in February 2009 during the Great Recession and 16.1 percent higher than the pre-pandemic level of 421,670 units in February 2020. M ONTHLY C ASH R EPORT Preliminary General Fund agency cash receipts for the first three months of the fiscal year were $8.713 billion above the 2020-21 Budget Act forecast of $45.41 billion. Cash receipts for the month of September were $4.164 billion above the 2020-21 Budget Act forecast of $9.806 billion. Preliminary General Fund agency cash receipts for the entire 2019-20 fiscal year were $1.135 billion above the 2020-21 Budget Act forecast of $123.395 billion, or 0.9percentage point above forecast. Total collections for March through September 2020 were down by 2.3percent from the same period in 2019. Personal income tax cash receipts to the General Fund for the first three months of the fiscal year were $6.667 $6.262 billion. Withholding cash receipts were $1.425 billion above the forecast of $4.225 billion. Other cash receipts were $1.676 billion above the forecast of $2.547 billion. Even though California does not have a September estimated payment due, taxpayers often match the federal estimated payment schedule. Refunds issued in September were $30 million above the expected $399 million. Proposition 63 requires that 1.76 percent of total monthly personal income tax collections be transferred to the Mental Health Services Fund (MHSF). The amount transferred to the MHSF in September was $55 million higher than the forecast of $111 million. Sales and use tax cash receipts for the first three months of the fiscal year were $1.641 billion above forecast. Cash nts the second prepayment for third quarter taxable sales. Corporation tax cash receipts for the first three months of the fiscal year were $329 million above the forecast of orecast of $1.509 billion. Estimated payments were $507 million above the forecast of $1.262 billion, and other payments were $69 million higher than the $365 million forecast. Total refunds for the month were $72 million higher than the forecast of $119 million. Insurance tax cash receipts for the first three months of the fiscal year were $109 million above forecast. Insurance tax cash receipts for September were $140 million above the forecast of $65 million. Cash receipts from the alcoholic beverage, tobacco taxes, and pooled money interest for the first three months of the fiscal year were $31 million below forecast, and were $8 million below the forecast of $72 million for September. "Other" Cash receipts for the first three months of the fiscal year were $2 million below forecast, and were $46 million above the forecast of $179 million for September.