The General Fund is the state’s piggy bank, where revenue goes in and payments come out. Today, the State Controller’s office released a report showing that, since June, the fund earned almost $300 million more than the same time last year. That’s an increase of over four percent. Amber Young at the controller’s office says it’s for the best possible reason-- people are earning more.
“It’s just things are doing better—individual income went up five percent,” Young said. “We’re seeing more people working again. Corporate went up about that amount.”