The 2012-13 Budget: Economic and Revenue Update [Publication Details]

Feb 27, 2012 - Like the economic data, reports concerning state revenues have been mixed recently too, with weakness in income tax payments accompanied by speculation concerning a future bonanza of tax revenues due to the possible offering of stock by Facebook, Inc.
https://lao.ca.gov/Publications/Detail/2578

California's Legislative Analyst's Office and the Value of Independence

Nov 15, 2024 - This, in turn, could prevent the Legislature from grappling with the important risks and trade-offs inherent in their budgeting decisions. Our independent revenue estimates facilitate consideration of these trade-offs in several ways.
https://lao.ca.gov/Publications/Report/4938

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - The Legislature likely will need to adopt additional solutions that increase ongoing revenues or reduce ongoing spending —both of which involve the most difficult and consequential trade-offs for policy makers.
https://lao.ca.gov/Publications/Report/5052

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - The main trade ‑off is that additional budget solutions would be required in 2024 ‑25 and beyond. Keep Policy Consistent With Recent Past. Unfunded liabilities affect the state ’s finances for decades.
https://lao.ca.gov/Publications/Report/4887

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Oversight of special funds and the associated activities also is an important area for legislative oversight, but it usually does not involve the same trade-offs as assessing the suite of General Fund programs.
https://lao.ca.gov/Publications/Report/4983

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Why We Advise Holding Off on Using Reserves for Now. The main benefit of reserves is that they help the state to maintain its core spending over the long term, despite the state ’s volatile revenue structure.
https://lao.ca.gov/Publications/Report/4687

Rethinking California's Reserve Policy

Apr 10, 2025 - As such, we think a reserve policy that covers three ‑quarters of funding shortfalls is adequate while balancing these  trade ‑offs. Keep Existing Formulas, but Set Aside All Excess Capital Gains Although there would be many advantages to replacing the existing Proposition  2 formulas with something simpler and more robust, we understand that it might be easier to reach agreement on reserve changes that build off existing policies rather than replace them.
https://lao.ca.gov/Publications/Report/5028

The 2023-24 Budget: State Appropriations Limit Estimates

Feb 1, 2023 - Conclusion In a 2022 report , we noted that, over the long term, the Legislature faces a fundamental trade-off regarding SAL. 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 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - This means that, going forward, decisions to balance the budget will involve more difficult trade ‑offs. We recommend the Legislature use the next few months to review program performance to develop its own approach to addressing the deficits.
https://lao.ca.gov/Publications/Report/4951

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The budget provides an additional $52  million from SPRF and $1  million each from the Off ‑Highway Vehicle Trust Fund and the Abandoned Watercraft Abatement Fund to improve state and local parks. Specifically, this funding will be used for: (1)  a local assistance program to Jurupa Area Recreation and Park District ($18  million), (2)  repairs at state parks caused by recent
https://lao.ca.gov/Publications/Report/3694/9