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

May 17, 2024 - The amount shown for 2025-26 is an estimate provided by the Department of Finance, reflecting 7.95 percent of CSU's 2024-25 base funding as of Governor's budget. c The May Revision includes $5.5 million to implement recent legislation that expanded eligibility for a tuition fee waiver applying primarily to the dependents of certain veterans. d In addition to the
https://lao.ca.gov/Education/EdBudget/Details/862

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

The 2024-25 Budget: Department of Social Services Immigration and Equity Programs

Mar 15, 2024 - Figure 1 Major Immigration and Equity Programs Under 2024 ‑25 Governor ’s Budget General Fund (in Millions) Temporary Protected Status Immigration Services a 10 Legal Services for Unaccompanied Undocumented Minors 3 — — a Reflects the 2024 ‑25 budget proposal to reduce funding by $10 million in 2023 ‑24 and on ‑going. b Reflects
https://lao.ca.gov/Publications/Report/4885

Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - As a result, the net impact on 2024 ‑25 and later years would minimal. Changes to Constitutional Budget Requirements. The revenue shift described above would result in changes to the state ’s constitutional minimum funding requirement for schools.
https://lao.ca.gov/Publications/Report/4722

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - The 2022 ‑23 budget package also included intent language to provide an additional $2.1   billion in 2023 ‑24 and $875   million in 2024 ‑25. The budget provides about $2   billion to the SFP in 2023 ‑24, which is $100   million less than the previously intended augmentation, and continues to assume an additional $875   million will be provided in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4788

The 2024-25 Budget: Child Welfare

Feb 26, 2024 - This reduction in 2024 ‑25 reflects the one ‑time nature of the funding. Flexible funds to support home ‑based foster care placements ‑50 ‑50 One ‑time funding of $50 million was provided in 2022 ‑33, followed by an additional $50 million in 2023 ‑24, each with three years of expenditure authority.
https://lao.ca.gov/Publications/Report/4855

The 2023-24 California Spending Plan: Human Services

Nov 6, 2023 - These unspent single allocation funds from the 2021-22 Budget Act would naturally revert to the General Fund in 2024-25. The 2023-24 spending plan ’s reversion of these funds represents a one-year acceleration.
https://lao.ca.gov/Publications/Report/4812/2

California's Economy and Taxes

With the fourth quarter early revision, calendar year 2023 shows essentially no net job gains.   Monthly Jobs Report May 21, 2024 Headline preliminary reports suggest the state added 43,000 jobs in May.
https://lao.ca.gov/LAOEconTax?tagId=90

The 2024-25 Budget: Department of Health Care Access and Information

Feb 27, 2024 - In Budget Year, a Few Key Adjustments Impact General Fund Spending. Under the Governor ’s budget, General Fund spending at HCAI is $373  million in 2024 ‑25, $619  million lower than the revised level in 2023 ‑24.
https://lao.ca.gov/Publications/Report/4860

Newest Early Jobs Revision Shows No Net Job Growth During 2023 [EconTax Blog]

Sep 15, 2023 - With the fourth quarter revision, calendar year 2023 saw essentially no net job growth (+9,000 jobs overall). Data since January 2024 has not yet been rebenched. As such, the figure includes the Early Benchmark Revision for these recent months growing  at the same rate as the official CES estimates.    
https://lao.ca.gov/LAOEconTax/Article/Detail/783