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

May 30, 2014

Members of the California Citizens Compensation Commission

2013-14 Certification of a Positive Balance In the Special Fund for Economic Uncertainties

Section 8 of Article Ill 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 Uncertainties (SFEU) for the current fiscal year by June 1.

I hereby certify that on June 30, 2014, there will be a positive balance in the SFEU for the current fiscal year in an amount of $2,948 million. The basis for this certification is the 2014-15 May Revision, which is the latest information available.

Estimated SFEU as of June 30, 2014
(in millions) $2,948

Estimated 2013-14 General Fund Revenues
$101,838

Estimated SFEU as a Percent of Estimated General Fund Revenues
2.89%

Sincerely, 

/s/ Michael Cohen
Director