The 2019-20 Budget: Structuring the Budget: Reserves, Debt and Liabilities

Feb 5, 2019 - Revenues from taxes and fees are the major sources of available resources. The three largest sources of state revenues are the personal income tax (PIT), sales tax, and corporation tax. While some revenue sources, like the sales tax, grow relatively steadily from one year to the next, the PIT is quite volatile —in most years growing by billions of dollars and in some years shrinking by billions of dollars.
https://lao.ca.gov/Publications/Report/3925

The 2020-21 Budget: Structuring the Budget

Feb 10, 2020 - Managed Care Organization (MCO) Tax Approved. After enacting the 2019 ‑ 20 b udget in June, the Legislature reauthorized the MCO tax in September. The MCO tax generates General Fund benefit by taxing enrollment in MCOs and using that revenue to offset General Fund costs in Medi ‑Cal.
https://lao.ca.gov/Publications/Report/4150

The 2016-17 Budget: California's Fiscal Outlook [Publication Details]

Nov 18, 2015 - The more new budget commitments are made in 2016-17, the more likely it is that the state would face difficult choices—such as spending cuts and tax increases—later. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/3305

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The General Fund is the state 's main operating account where most state tax revenues are deposited. You can think of it as being similar to a general purpose checking account that a household uses to pay its bills.
https://lao.ca.gov/Publications/Report/3487/12

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - CWDB = California Workforce Development Board; CDE = California Department of Education; COLA = cost ‑of ‑living adjustment; GF = General Fund; CDFA = California Department of Food and Agriculture; CDTFA = California Department of Tax and Fee Administration; CTC = Commission on Teacher Credentialing; DCC = Department of Cannabis Control; DFPI = Department of Financial Protection
https://lao.ca.gov/Publications/Report/4448/1

Infographic: California's State Budget [Publication Details]

Oct 24, 2014 - Since 1950-51, the personal income tax has replaced the sales and use tax as the predominant source of General Fund revenue. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/3149

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - Senate Bill 1 Funding Senate Bill 1 i ncreased fuel taxes and vehicle charges to support existing and new transportation programs. It also repays monies loaned in the past to the General Fund from various transportation accounts.
https://lao.ca.gov/Publications/Report/3870/10

Cal Facts: 2016

Dec 5, 2016 - The federal loans are estimated to be repaid in 2018, in part due to temporarily increased revenues from federal UI taxes paid by employers. However, absent an ongoing increase in revenues and/or reduction in benefits, the trust fund risks returning to insolvency in a future economic downturn.
https://lao.ca.gov/Publications/Report/3511/7

The Quiet Transformation in California’s Cash Management

Aug 29, 2019 - Corporations issue commercial paper to finance their receivables while many U.S. state and local governments —especially those with back-loaded revenue collections (such as California) —issue tax revenue anticipation notes.
https://lao.ca.gov/Publications/Report/4091

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - Prudence dictates that only when baseline projections show operating surpluses (annual revenues exceeding expenditures) can new ongoing commitments or tax reductions be considered. Conversely, if projections indicate a looming structural deficit, the estimates are helpful in functioning as an early warning system.
https://lao.ca.gov/Publications/Report/4443