Author: Rogers, Kari
Company: California Department of Human Resources

May 25, 2011

Members of the California Citizens Compensation Commission

2010-11 Certification of a Negative Balance in the Special Fundfor Economic Uncertainties 

Section 8 of Article III of the State Constitution calls for the Director of Finance to certify to the California Citizens Compensation Commission the estimated balance in the Special Fund for Economic Uncertanties for the current fiscal year by June 1. 

I herby certify that on June 30, 2011, there will be a negative balance in the Special Fund for Economic Uncertanties for the current fiscal year in an amount equal to, or greater than, 1 percent of estimated General Fund revenues. The basis for the certification is the 2011-12 May Revision, which is the latest information available. 

Estimated Special Fund for Economic Uncertanties (SFEU) as of June 30, 2011
(in millions) -$3,548

Estimated 2010-11 General Fund Revenues
$93,844

Estimated SFEU Deficit as a Percent of Estimated General Fund Revenues
-$3.78%

Sincerely,

/s/ ANA J. MATOSANTOS
Director