California Generates $56 Billion to Support Our Communities
The California State Board of Equalization (BOE) has released its annual report for fiscal year 2012-2013 which highlights California’s taxpayer revenue of more than $56 billion, an increase of $3.6 billion from the previous fiscal year. This money helps provide funding for community services such as public safety, roads, and schools.
“The BOE is proud to assist businesses in generating the prosperity of California and is committed to working with our taxpayers to build a better quality of life for all of us,” said BOE Executive Director Cynthia Bridges. “The newly designed annual report provides more transparency and better explains our role in supporting our communities.”
BOE’s Annual Report 2012-2013, entitled “Supporting Our Communities: Funding a Better Quality of Life,” shows how the revenue BOE generates is crucial to maintaining state and local government programs that benefit California communities today and in the future. For example, the BOE collected and returned more than $22 billion in FY 2012-13 sales and use tax revenues to California cities and counties.
The BOE produced more than 30 percent of all state revenues for the fiscal year, and did so, efficiently. Our total cost for all operations was $517 million, or 92 cents for every $100 of revenue collected.