Revenue Volatility In California [Publication Details]

Jan 20, 2005 - Revenue Volatility In California [Publication Details] HTML Description: Following the boom-bust revenue cycle in recent years, concerns have developed about volatility in California's General Fund revenues.
https://lao.ca.gov/Publications/Detail/1213

Perspectives on State Revenues 2004-05 [Publication Details]

Feb 18, 2004 - 2003-04 Forecast: We forecast that General Fund revenues and transfers will total $74.1 billion in the current year, a $2.8 billion (3.9 percent) increase from 2002-03. This is down $491 million from the budget forecast, of which $477 million is related to our lower estimate of personal income tax (PIT) revenues. 2004-05 Forecast: We forecast that revenues and transfers will total $75.
https://lao.ca.gov/Publications/Detail/1089

Perspectives on the Economy and Demographics 2004-05 [Publication Details]

Feb 18, 2004 - The U.S. and California economies are entering 2004 with significant momentum which we believe will continue through the budget year. The one major exception to the generally upbeat economic picture is employment growth, which continues to lag despite major gains in consumer and business spending and output in the economy.
https://lao.ca.gov/Publications/Detail/1090

State Fiscal Picture 2004-05 [Publication Details]

Feb 18, 2004 - We further project that an ongoing General Fund structural deficit of close to $7 billion would exist beyond the budget year, absent corrective action. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/1091

California's Fiscal Outlook: LAO Projections, 2003-04 Through 2008-09 [Publication Details]

Nov 14, 2003 - According to our projections, the state is facing a year-end shortfall of $10.2 billion in 2004-05 assuming the vehicle license fee (VLF) rate increase remains in effect, and substantially more if the rate is rolled back and the state resumes backfill payments to localities.
https://lao.ca.gov/Publications/Detail/1060

California Spending Plan 2003-04: The Budget Act and Related Legislation [Publication Details]

Oct 23, 2003 - The Legislature was faced with addressing an enormous two-year General Fund budget shortfall in developing the state's spending plan for 2003-04. We discuss the factors underlying this shortfall, describe the key actions taken to address it, and provide detail on the adopted budget package.
https://lao.ca.gov/Publications/Detail/1057

Perspectives on the Economy and Demographics 2002-03 [Publication Details]

Feb 20, 2002 - Our outlook is predicated on (1) a rebound in high-tech spending in the second half of the year and (2) the absence of significant terrorism-related disruptions to the national or state economies. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/833

Perspectives on State Revenues 2002-03 [Publication Details]

Feb 20, 2002 - The state is facing a major budget shortfall caused largely by an unprecedented decline in tax receipts. Specifically, General Fund revenues are projected to fall by over 14 percent in 2001-02, just two years after the state experienced a more than 23 percent increase. In addition, basic revenue volatility has increased in recent years, giving the revenue forecast greater uncertainty.
https://lao.ca.gov/Publications/Detail/832

State Fiscal Picture 2002-03 [Publication Details]

Feb 20, 2002 - Based on our projections of revenues and expenditures, adoption of the Governor's spending policies would result in a year-end deficit of about $4.5 billion in 2002-03. This represents a $5 billion deterioration in the budget condition relative to the administration's estimate, which assumes a $511 million reserve.
https://lao.ca.gov/Publications/Detail/834

Addressing the State's Fiscal Problem [Publication Details]

Dec 19, 2001 - Due to weak economic and revenue performance, California faces a $12.4 billion budget shortfall in 2002-03. We identify several key budget-balancing principles and strategies and identify specific spending and revenue options for implementing these strategies.
https://lao.ca.gov/Publications/Detail/815