State revenue collection more than $300 million under target

State revenue collection was more than $300 million under the projected amount, according to the state controller’s office.

The state missed the collection goal laid out by the state budget by $301.6 million dollars, or 4 percent, according to figures the office released Monday. The state is now $705.5 million, or 3.6 percent, behind the general fund revenue collection goals laid out by the state’s budget for this year.

With the state so far behind in its revenue collection, the trigger cuts included in the 2011 budget are closer to being enacted. The trigger cuts include a further $100 million in cuts for the UC. The state has already reduced funding for the university by $650 million for this fiscal year.

“For better or worse, the potential for revenue shortfalls is precisely why the Governor and Legislature included trigger cuts in this year’s State spending plan,” said State Controller John Chiang in a Monday statement.  “September’s revenues alone do not guarantee that triggers will be pulled. But as the largest revenue month before December, these numbers do not paint a hopeful picture.”

Jordan Bach-Lombardo is the university news editor.