To browse all LAO publications, visit our Publications page.
April 10, 2025 - Reserves allow the state to ensure stable funding for its services over time, even when revenue fluctuates unpredictably. Over the last few years, the state has indeed experienced significant fluctuations—large surpluses followed by significant deficits. This volatility has prompted interest in changes to the state’s reserve policy. In this report, we assess proposed changes by the Governor to the state’s reserve policy and put forward our own recommendations that would allow the state to save enough in reserves to be able to afford its core service level over the long-term.
February 24, 2025 - This post provides guidance to the Legislature for conducting fiscal oversight. As outlined in our November Fiscal Outlook, we advise the Legislature to use the 2025-26 budget process to conduct robust fiscal oversight of state programs. In particular, we advise the Legislature to put particular focus on programs and activities supported by the General Fund to help prepare for actions that might be needed to address expected deficits in the coming years.
February 20, 2025 - Presented to: Assembly Budget Subcommittee No. 7 on Accountability and Oversight
February 10, 2025 - Presented to: Assembly Budget Committee
January 30, 2025 - Presented to: Senate Committee on Budget and Fiscal Review
January 13, 2025 - Update (1/16/25): A set of tables detailing various solutions and proposals has been appended to the online version of this report. They are available using the HTML link above.
On January 10, 2025, Governor Newsom’s administration presented its proposed state budget to the California Legislature. In this report, we provide a brief summary of the Governor’s budget based on our initial review as of January 12. In the coming weeks, we will analyze the plan in more detail and release many additional issue-specific budget analyses. For those additional analyses, please see our budget page.
January 1, 2025 - As we release publications aimed at addressing the 2025-26 budget situation, we will add them to this index page.
December 2, 2024 - CalFacts presents a wide range of facts and trends about the state's economy, finances, and programs.
November 20, 2024 -
Every year, our office publishes the Fiscal Outlook in anticipation of the upcoming budget season. This report gives the Legislature our independent estimates and analysis of the state’s budget condition with the goal of helping lawmakers prepare for the 2025-26 budget process.
See our other Fiscal Outlook publications here.
November 15, 2024 - In this post, the Legislative Analyst emphasizes the value of independent forecasts as a key part of California's budget process.
October 2, 2024 - This post discusses features of the state's spending plan that were not covered elsewhere in the 2024-25 Spending Plan series.
September 11, 2024 - The Supplemental Report of the 2024-25 Budget Act contains statements of legislative intent and requests for studies that were adopted by the Legislature during deliberations on the 2024-25 budget package.
September 6, 2024 - Each year, our office publishes California Spending Plan Series, a series of publications that summarize the annual state budget. The flagship report of this series, Overview of the Spending Plan, is presented here along with short online posts that focus on major areas and features of the 2024-25 budget package. As the posts become available, we will add them below.
September 6, 2024 - Each year, our office publishes the California Spending Plan to summarize the annual state budget. This publication provides an overview of the 2024‑25 Budget Act, gives a brief description of how the budget process unfolded, and then highlights major features of the budget approved by the Legislature and signed by the Governor. All figures in this publication reflect actions taken through early July 2024, but we have updated the narrative to reflect actions taken later in the legislative session.
August 6, 2024 - Presented to: Assembly Committee on Budget