Comparing Core CSU Funding Under Governor's Budget and May Revision [EdBudget]

May 11, 2019 - Comparing Core CSU Funding Under Governor's Budget and May Revision [EdBudget] $23 a Includes funding for pensions and retiree health benefits.   b In addition, both the Governor's budget and May Revision include $7 million ongoing General Fund to the Department of Social Services for provision of legal services to immigrant students and employees at CSU campuses. c Includes funds that CSU uses to provide tuition discounts and waivers to certain students.
https://lao.ca.gov/Education/EdBudget/Details/257

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Apr 4, 2016 - All of these salary increases also increase the state ’s costs associated with benefits that are paid as a percentage of salary —referred to as “salary-driven benefits. ” In 2016-17, salary-driven benefits for Unit 6 —pension and Medicare benefits —are expected to equal about 40  percent of salary.
https://lao.ca.gov/Publications/Report/3409

The 2020-21 Budget: Higher Education Analysis

Feb 20, 2020 - Several years ago, the state modified its approach to covering CSU pension costs. Under the new approach, CSU is to take into account pension costs when it makes new staffing and salary decisions. Any new pension costs incurred beyond the 2013 ‑ 14 p ayroll level are CSU ’s direct responsibility.
https://lao.ca.gov/Publications/Report/4168

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/Article/Detail/795

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/article/Detail/795

The 2024-25 Budget: The MCO Tax Package at May Revision

May 22, 2024 - Historically, the state has used the MCO tax to help pay for existing services in Medi-Cal. Using the tax in this way allowed the state to spend less money from the General Fund on Medi-Cal. When the Legislature notably increased the tax in 2023, however, it designated some of the associated revenue to increase funding for Medi-Cal and other health programs.
https://lao.ca.gov/Publications/Report/4905

K-14 District Pension Contribution Rates and Costs [EdBudget]

Aug 14, 2017 - K-14 District Pension Contribution Rates and Costs [EdBudget]     CalSTRS = California State Teachers’ Retirement System. CalPERS = California Public Employees’ Retirement System. The CalSTRS rates over this period are set in statute.
https://lao.ca.gov/Education/EdBudget/Details/70

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

May 17, 2024 - The State Constitution ’s balanced budget provision prohibits the state from enacting a negative SFEU balance for the upcoming fiscal year, in this case, 2024-25. While historically the state mostly has enacted SFEU balances between $1  billion and $4  billion, the Legislature can choose to set the balance at any level above zero.
https://lao.ca.gov/Publications/Report/4902

May Revision Proposes to Reduce UC Funding in 2024-25, Approach for 2025-26 Is Needlessly Complex [EdBudget]

May 17, 2024 - May Revision Proposes to Reduce UC Funding in 2024-25, Approach for 2025-26 Is Needlessly Complex [EdBudget]        a The May Revision proposes a 7.95 percent reduction to state operations for most state departments.
https://lao.ca.gov/Education/EdBudget/Details/861

LAO 2007 Budget Analysis: Retirement Contributions (Control Section 3.60)

The State Constitution gives retirement boards, such as the CalPERS Board of Administration, the exclusive power to undertake actuarial reviews of their pension funds and to administer the funds for the benefit of their members.
https://lao.ca.gov/analysis_2007/general_govt/gen_22_anl07.aspx