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

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/4902/1

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

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/4902/2

The 2024-25 Budget: Initial Comments on the Governor’s May Revision [Publication Details]

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Detail/4902

The 2024-25 Budget: Multiyear Budget Outlook [Publication Details]

May 23, 2024 - This post presents our office’s forecast of the condition of the state General Fund budget through 2027-28 under our revenue estimates and assuming the Governor’s May Revision policies were adopted.
https://lao.ca.gov/Publications/Detail/4907

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Since then, the state has repaid all of the eligible budgetary debts, meaning the remaining eligible uses of Proposition  2 are related to unfunded liabilities for pensions and retiree health benefits, as shown in Figure  4.
https://lao.ca.gov/Publications/Report/4418

The 2015-16 Budget: The Governor's Proposition 2 Proposal [Publication Details]

Mar 25, 2015 - We recommend that the Legislature develop a long-term plan for Proposition 2 and suggest that the Legislature solicit proposals from the administration, state pension systems—including CalPERS, CalSTRS, and the UC Regents—and others concerning the benefits of applying Proposition 2 debt payment funds toward eligible liabilities.
https://lao.ca.gov/Publications/Detail/3226

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature [Publication Details]

Apr 19, 2023 - Through the final months of the 2023-24 budget process, California’s Legislature will make numerous important decisions regarding the allocation of state resources in the context of a budget problem. Few choices will be as consequential for the state’s medium-term fiscal outlook as whether or not to draw upon its budget reserves to close a projected deficit.
https://lao.ca.gov/Publications/Detail/4762

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - In that case, the state ’s reserves could be key to sustaining the state ’s safety net through a challenging economic period. Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656 | information [at] lao.ca.gov
https://lao.ca.gov/Publications/Report/4762

The 2019-20 Budget: Proposition 98 Outlook

Nov 14, 2018 - Pension Rates and Costs Have Been Growing. School and community college employees generally participate in one of two state pension systems. The California State Teachers ’ Retirement System administers pension benefits for teachers, administrators, and other certificated employees, whereas the California Public
https://lao.ca.gov/Publications/Report/3897

The 2014-15 Budget: Overview of the May Revision [Publication Details]

May 16, 2014 - The package continues to build reserves and pay down debts, including a new proposal to fund the teachers' pension system over about 30 years. Our May revenue forecast projects $2.5 billion higher revenues compared with that of the administration—not substantially different given the size of the state budget.
https://lao.ca.gov/Publications/Detail/3017