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The 2025-26 Budget: Overview of the Governor's Budget


Handout

[PDF] The 2025-26 Budget: Overview of the Governor’s Budget

February 10, 2025 - Presented to: Assembly Budget Committee

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[PDF] The 2024-25 Budget: Overview of the Spending Plan

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.

Brief

[PDF] The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.

Report

[PDF] The 2023-24 Budget: Overview of the Governor's Budget

January 13, 2023 - On January 10, 2023, Governor Newsom presented his proposed state budget to the Legislature. In this report, we provide a brief summary of the proposed budget based on our initial review. In the coming weeks, we will analyze the plan in more detail and release several additional budget analyses.

Brief

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - On May 12, 2023, Governor Newsom presented a revised state budget proposal to the Legislature. (This annual proposed revised budget is called the “May Revision.”) In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.

Report

The 2024-25 Budget: Overview of the Governor's Budget

January 13, 2024 - On January 10, 2024, Governor Newsom presented his 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.

Handout

[PDF] The 2024-25 Budget: LAO Assessment of the Governor’s May Revision

May 24, 2024 - Presented to: California Society of Municipal Analysts

Report

[PDF] The 2022-23 Budget: Overview of the Governor's Budget

January 13, 2022 - On January 10, 2022, Governor Newsom presented his proposed state budget to the Legislature. In this report, we provide a brief summary of the proposed budget based on our initial review. In the coming weeks, we will analyze the plan in more detail and release several additional budget analyses.

Update (1/21/22): Includes a corrected estimate of Governor’s Budget proposals that are excludable under the State Appropriations Limit (SAL).

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The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - On May 14, 2021, Governor Newsom presented a revised state budget proposal to the Legislature. (This annual proposed revised budget is called the “May Revision.”) In this post, we provide a summary of the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account. In the coming days, we will analyze the plan in more detail and provide additional comments in hearing testimony and online.

Report

[PDF] The 2023-24 Budget: Overview of the Spending Plan (Final Version)

October 16, 2023 - This publication provides a preliminary overview of the 2023-24 Budget Act, gives a brief description of how the budget process unfolded, and then highlights major features of the budget.

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The 2016-17 Budget: Initial Comments on the Governor’s May Revision

May 15, 2016 - In the May Revision, the Governor proposes ending 2016-17 with $8.5 billion in total state General Fund reserves. This level of reserves is about $1.7 billion lower than the level proposed by the Governor in January, which largely reflects a downward revision in revenue estimates since then, as well as increased required spending on K-14 education. Nevertheless, estimated tax revenues continue to exceed proposed spending in 2016-17, which would facilitate total reserves ending 2016-17 at $4 billion above the level assumed in the state's 2015-16 budget plan. Since January, the state has made budgetary commitments that represent substantial new ongoing costs for the state. These include: (1) an increase in the statewide minimum wage, (2) augmentations for health and human service programs, and (3) increased costs associated with new collective bargaining agreements. These commitments, along with the lower estimates of revenues and reserves, mean there is now less capacity than there was in January for additional budgetary commitments. Given these developments, and at this point in a mature economic expansion, we think it would be prudent to pursue a target for total reserves that is at least as large as the $8.5 billion amount in the Governor’s revised budget.

Brief

[PDF] The 2024-25 Budget: Medi-Cal Analysis

February 14, 2024 - This brief provides an overview of the Governor’s proposed budget for Medi-Cal; describes key trends in Medi-Cal caseload; and analyzes proposals around the managed care organization tax, provider payment increases, and other budget solutions.

Brief

The 2024-25 Budget: CalWORKs

March 4, 2024 - In this brief, we provide background on the CalWORKs program followed by an overview and assessment of the Governor’s California Work Opportunity and Responsibility to Kids (CalWORKs) budget proposals, which include a number of budget solutions. In addition, the brief provides issues for consideration to help the Legislature evaluate the administration’s proposals in the current year, budget year, and beyond.

Handout

[PDF] The 2025-26 Budget: Overview of the Governor’s Budget

January 30, 2025 - Presented to: Senate Committee on Budget and Fiscal Review