The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - We define a delay as an expenditure reduction proposed for the budget window (2021‑22 through 2023‑24) with an associated cost increase in a future year of the multiyear (2024‑25 through 2026‑27). That is, the spending would be moved to a future year.
https://lao.ca.gov/Publications/Report/4769

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

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Governor ’s Budget Likely Unaffordable in Future Years. Under the administration ’s projections, the state faces operating deficits of $9  billion in 2024 ‑25, $9  billion in 2025 ‑26, and $4  billion in 2026 ‑27.
https://lao.ca.gov/Publications/Report/4687

The 2023-24 Budget: State Appropriations Limit Estimates

Feb 1, 2023 - Specifically, while the state might have more room in years when revenue growth is lower than historical averages—such as this year—over the long term, we expect the state to continue to reach the limit.
https://lao.ca.gov/Publications/Report/4667

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - We define a delay as an expenditure reduction that occurs in the budget window (2021 ‑22 through 2023 ‑24), but has an associated expenditure increase in a future year of the multiyear window (2024 ‑25 through 2026 ‑27).
https://lao.ca.gov/Publications/Report/4662

How Program Spending Grew in Recent Years [Publication Details]

Jan 5, 2023 - How Program Spending Grew in Recent Years [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4659

New Inflation Poses Not So New Budget Risk [Publication Details]

Dec 15, 2022 - Once it emerged, inflation accelerated throughout 2021 and has remained elevated this year with as yet indeterminate signs of abating. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/4653

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - All state spending into the economy —whether it goes toward health care, corrections, schools, or tax rebates —must be funded with revenue extracted from the economy. Reserves Offer Insurance Against Downside Risk By far, the biggest fiscal threat posed by inflation is its propensity to raise the risk of a recession.
https://lao.ca.gov/Publications/Report/4653

The 2023-24 Budget: California's Fiscal Outlook [Publication Details]

Nov 16, 2022 - Update (11/22/22): The original version of this report identified a $25 billion —instead of a $24 billion —budget problem, which reflected an error in the way we accounted for student housing grant program funding.
https://lao.ca.gov/Publications/Detail/4646

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - On the other hand, we do reflect spending on school facilities of $2  billion in 2023 ‑24 and $875  million in 2024 ‑25, and broadband spending of $300  million in 2023 ‑24 and $250  million in 2024 ‑25, in which enacted legislative intent language met our criteria.
https://lao.ca.gov/Publications/Report/4646