The 2020-21 Budget: California's Spring Fiscal Outlook

May 8, 2020 - …But State ’s Cash Position Will Change Dramatically in the Coming Months. When normal collections resume, the state ’s cash position could improve, but a variety of factors will continue to limit the state ’s available cash.
https://lao.ca.gov/Publications/Report/4228

The 2021-22 Budget: California's Fiscal Outlook [Publication Details]

Nov 18, 2020 - However, the state also faces an operating deficit beginning in 2021-22 and throughout the outlook period, growing to $17 billion by 2024-25. Our analysis also finds it is quite unlikely for revenues to grow fast enough for the budget to break even and erase the operating deficit.
https://lao.ca.gov/Publications/Detail/4297

State Funding Actions Related to COVID-19

Apr 20, 2020 - State Funding Actions Related to COVID-19 COVID-19 State Funding Actions Related to COVID-19 This post summarizes recent legislative and administrative action to allocate state funds to respond to the coronavirus disease 2019 (COVID-19) public health emergency.
https://lao.ca.gov/Publications/Report/4223

Taking Stock of California’s Recession Readiness

Feb 12, 2020 - Whether the state ’s multiyear fiscal outlook shows operating surpluses or deficits when a recession begins can have a significant effect on how resilient it is through the downturn. If the state enters the recession with an operating deficit, the decline in revenues caused by the recession will only worsen the state ’s budget problem.
https://lao.ca.gov/Publications/Report/4156

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - Earlier this week the Legislature provided the administration additional resources and authority to ensure the state can effectively respond. Similarly, there is a marshaling of resources occurring at the federal level that should offer support to the economy and the state ’s fiscal situation.
https://lao.ca.gov/Publications/Report/4203

The 2021-22 Budget: California Spending Plan Series [Publication Details]

Aug 24, 2021 - Each year, our office publishes California Spending Plan, a series of publications that summarize the annual state budget. The Overview of the California Spending Plan is presented here along with short online posts that focus on major areas and features of the 2021-22 budget package. As more of these posts become available, we will add them below.
https://lao.ca.gov/Publications/Detail/4464

Cal Facts 2018 [Publication Details]

Dec 6, 2018 - With a state as big, as populous, and as complex as California, quickly summarizing how its economy or state budget works is impossible. Instead, Cal Facts is a visual guide—using a variety of different charts—to the state's economy, revenues, and major program trends.
https://lao.ca.gov/Publications/Detail/3905

Structuring the 2019-20 Budget: Reserves, Debt, and Liabilities [Publication Details]

Mar 5, 2019 - Assembly Budget Subcommittee No. 4 on State Administration
https://lao.ca.gov/Publications/Detail/3964

The 2020-21 Budget: California's Fiscal Outlook

Nov 20, 2019 - We find the state has: Ongoing Surplus of $3   Billion Under Baseline Expenditure Scenario. In our baseline expenditure scenario, we find the state has an ongoing surplus of around $ 3  b illion. Importantly, this scenario assumes the federal government approves the managed care organization (MCO) tax and the state faces no major disasters over the next few years.
https://lao.ca.gov/Publications/Report/4111

The Quiet Transformation in California’s Cash Management

Aug 29, 2019 - The way it works is the state borrows the funds necessary to pay for its operations early in the fiscal year, when its net cash flows are negative. Later in May or June, after the bulk of state personal income tax payments are remitted in April and net cash flows turn positive, the state repays the loan.
https://lao.ca.gov/Publications/Report/4091