California Revenue $1.26 Billion Below Forecast, Agency Says

California’s revenue trailed projections in October for the fourth consecutive month, bringing the total shortfall to $1.26 billion, a deficit of 5.1 percent, the state Finance Department said.

In October, the most-populous state reported $5.2 billion in tax and fee revenue, 10.5 percent below forecasts for the month, the department said in its monthly bulletin.