The 2023-24 Budget: May Revenue Outlook [EconTax Blog]

May 13, 2023 - In the last 30 years, comparable two-quarter declines have occurred only around the Dot-Com Recession and the Great Recession. Similarly, income tax withholding (the largest component of income tax collections) has declined 5 percent so far this year, a stark departure from the double digit growth of the preceding two years.
https://lao.ca.gov/LAOEconTax/article/Detail/774

The 2023-24 Budget: May Revenue Outlook [EconTax Blog]

May 13, 2023 - In the last 30 years, comparable two-quarter declines have occurred only around the Dot-Com Recession and the Great Recession. Similarly, income tax withholding (the largest component of income tax collections) has declined 5 percent so far this year, a stark departure from the double digit growth of the preceding two years.
https://lao.ca.gov/LAOEconTax/Article/Detail/774

California Student Aid Commission Spending Proposals Under Governor’s Budget and May Revision [EdBudget]

May 13, 2023 - b Consists of $590,000 for 3 new positions, $500,000 in unallocated funds, $120,000 for high school toolkits, and a reduction of $45,000 due to adjustments in employee compensation costs. c Consists of $987,000 for 7 new positions, $120,000 for high school toolkits, $103,000 for Cash for College and a reduction of $45,000 due to adjustments in employee
https://lao.ca.gov/Education/EdBudget/Details/722

UC Spending Proposals Under Governor's Budget and May Revision [EdBudget]

May 13, 2023 - It would backfill these slots with the same number of additional resident undergraduate students. c The Governor proposes to rescind a total of $437 million in one-time General Fund provided for various student housing projects and instead provide funding for UC to debt finance these projects using university bonds with the state paying the associated debt service. d Per the 2022-23 budget
https://lao.ca.gov/Education/EdBudget/Details/724

CCC Spending Proposals Under Governor's Budget and May Revision [EdBudget]

May 13, 2023 - The May Revision proposes the same amounts. d Uses reappropriated Proposition 98 funds (previously appropriated funds for other purposes that were not spent). e The May Revision also indicates intent to provide $10 million for this purpose in both 2024-25 and 2025-26. f The Governor's budget reduced funding provided in the 2022-23 budget agreement for this purpose from a total of $841 million to $628 million.
https://lao.ca.gov/Education/EdBudget/Details/717

The 2023-24 Budget: Whole Child Model Expansion

May 5, 2023 - Phases Expansion Over Two Years. Under the proposal, the ten smallest counties would transition to the Whole Child Model in January 2024, and the remaining five counties (including the three Single-Plan model counties) would transition in January 2025.
https://lao.ca.gov/Publications/Report/4767

The 2023-24 Budget: County of Los Angeles Citizens Redistricting Commission Mandate

May 2, 2023 - Pursuant to the law, the cost to support the redistricting process are incurred over three fiscal years because the commission is required to be created no later than December 31 in each year ending in the number zero and the redistricting commission is required to adopt new boundaries for supervisor districts before August 15 of the year following the year in which each decenn ial federal census is taken.
https://lao.ca.gov/Publications/Report/4766

The 2023-24 Budget: Improving Legislative Oversight of CalFire’s Emergency Fire Protection Budget

May 1, 2023 - Furthermore, given that the state has been experiencing a trend towards a greater number of large and destructive wildfires, the administration ’s approach of averaging the five highest years over the past ten years (rather than the average of all the recent years) is  reasonable.
https://lao.ca.gov/Publications/Report/4765

The 2023-24 Budget: California State Library

Apr 19, 2023 - While the State Library has seen a large increase in one ‑time funding for local assistance programs, the bulk of this funding must be spent by June 30, 2024. Moreover, the State Library has had significant growth in its staffing levels over the past few years, with many new staff provided to assist in administering new or expanded local assistance programs.
https://lao.ca.gov/Publications/Report/4761

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

Apr 19, 2023 - (The state also has an additional nearly $10 billion in reserves that it can use specifically to supplement constitutionally required funding for schools and community colleges.) On the other hand, our office maintains that the economy is at a heightened risk of going into a recession, which could cause the state’s budget problem to metastasize.
https://lao.ca.gov/Publications/Report/4762