California year-to-date revenues falling short

SAN FRANCISCO, March 14 (Reuters) - California's February general fund revenues were $51 million above Gov. Arnold Schwarzenegger's forecast in his budget plan but since the start of the year they are $847 million below his projections, the state's Finance Department said on Wednesday.

A department report cited weaker-than-expected personal income tax collections.

"Personal income tax revenues to the general fund were $93 million below the month's forecast of $1.490 billion," the report said. "Year-to-date general fund income tax revenues are $1.239 billion below estimate."

California state controller said on Monday the state's general fund revenue for the fiscal year from July through February rose 4.5 percent above year-earlier levels but its personal income tax collections were nearly $1 billion below the projection in Schwarzenegger's budget. The state's fiscal year began in July.