The 2017-18 Budget: Initial Comments on the Governor’s May Revision

May 13, 2017 - Supplemental Payment for State Pensions. The administration proposes making an additional payment of $6 billion to reduce the unfunded liability of CalPERS, the pension system for retired state employees.
https://lao.ca.gov/Publications/Report/3669

2017 May Revision: LAO Revenue Outlook [EconTax Blog]

May 12, 2017 - While the economic growth scenario anticipates a continued slowing in job growth in the state, it also anticipates that individuals ' salaries will increase over the next couple of years due to a tightening labor market and rising minimum wages, among other factors.
https://lao.ca.gov/LAOEconTax/Article/Detail/240

2017 May Revision: LAO Economic Outlook [EconTax Blog]

May 11, 2017 - California firms export electronic components, vehicle and machinery parts, agricultural commodities, and other items abroad, while the state ’s large logistics industry moves goods from ports and distributors in California and other states and vice versa.
https://lao.ca.gov/LAOEconTax/Article/Detail/239

Federal Funding for Natural Resources and Environmental Protection [Publication Details]

May 10, 2017 - In this post, we provide more detail on federal funding for the state’s natural resources and environmental protection programs, with a focus on the five state departments that receive the most federal funds last year.
https://lao.ca.gov/Publications/Detail/3664

Federal Funding for Natural Resources and Environmental Protection

May 10, 2017 - Much of this spending requires a state match. Figure 1 Funding for State Natural Resources and Environmental Protection Departments 2015-16 (Dollars in Millions) Federal as Percent of Total Funds State a State Water Resources Control Board $605 6% a Includes General Fund, special funds, and bond funds.
https://lao.ca.gov/Publications/Report/3664

CalSTRS Funding: An Update

May 5, 2017 - Generally, the calculation estimates what CalSTRS ’ unfunded liabilities would be if (1) the state had not granted teachers more generous pensions in the late 1990s and (2) state and teacher contributions to CalSTRS ’ main pension fund had not been decreased when CalSTRS was fully funded around 2000.
https://lao.ca.gov/Publications/Report/3662

CalSTRS Funding: An Update [Publication Details]

May 5, 2017 - The CalSTRS board recently acted to change assumptions used to estimate its unfunded liabilities, including the key assumption about future investment returns--sometimes referred to as the "discount rate." These and other recent developments have eroded CalSTRS' funding situation.
https://lao.ca.gov/Publications/Detail/3662

The 2017-18 Budget: Overview of Governor’s Cannabis-Related Trailer Bill Legislation [Publication Details]

May 4, 2017 - Presented to the following Senate Budget and Fiscal Review Subcommittees: Resources, Environmental Protection, Energy, and Transportation Health and Human Services State Administration and General Government
https://lao.ca.gov/Publications/Detail/3661

Update on COLA for K-14 Education Programs

Apr 28, 2017 - Background Statutory COLA Determined by Price Index for State and Local Governments. State law specifies that certain school and community college programs are to receive an annual COLA. The statutory COLA rate is tied to a national price index developed by the Bureau of Economic Analysis (a division of the U.S.
https://lao.ca.gov/Publications/Report/3657

The 2017-18 Budget: Secretary of State Spring Finance Letter

Apr 25, 2017 - The Secretary of State is the state ’s chief elections official and oversees the administration of elections across the state, including certifying voting equipment that may be used in California elections.
https://lao.ca.gov/Publications/Report/3656