A Review of the CalSTRS Funding Plan: Funding Plan May Not Meet Principle of “Shared Responsibility”

Feb 2, 2016 - In other words, even if investments fall short of the CalSTRS ’ target in the near term, a large investment gain a few years from now could eliminate the state ’s share of the unfunded liability and reduce the state ’s funding plan supplemental payment to $0.
https://lao.ca.gov/Publications/Report/3337

The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - In other words, the Governor ’s proposal likely provides a larger buffer than necessary if the state ’s goal is to avoid inadvertently exceeding the guarantee in  2025 ‑26. Proposal Worsens the Challenge Posed by Future Budget Deficits.
https://lao.ca.gov/Publications/Report/5110

A Review of the CalSTRS Funding Plan: Treatment of Teacher Contributions Also Increase District Unfunded Liabilities

Feb 2, 2016 - In other words, higher teacher contributions will only partially be used to pay down the district share of CalSTRS ’ unfunded liabilities. Implementation May Differ From Legislative Intent. As described above, administration documents characterized higher teacher contributions as paying for $8 billion of the $74 billion unfunded liability that existed when the funding plan was placed into law.
https://lao.ca.gov/Publications/Report/3335

A Review of the CalSTRS Funding Plan: CalSTRS Funding Plan Relies on Abstract Calculation

Feb 2, 2016 - In other words, when CalSTRS records a large investment gain, we thought most of the gain would be used to reduce the district share of unfunded liabilities with the rest reducing the state share. Funding Plan Instead Relies on Abstract Calculation.
https://lao.ca.gov/Publications/Report/3333

A Review of the CalSTRS Funding Plan: Theoretical Investment Gains Have Shifted Unfunded Liabilities to Districts

Feb 2, 2016 - In other words, when CalSTRS records a large investment gain, we thought most of the gain would be used to reduce the district share of unfunded liabilities with the rest reducing the state share by a lesser amount.
https://lao.ca.gov/Publications/Report/3334

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - In other words, we are not describing the budget condition as having a surplus or a deficit at this time. These concepts are inherently tools of communication, not accounting, and are ultimately somewhat subjective.
https://lao.ca.gov/Publications/Report/4951

CalSTRS Funding: An Update

May 5, 2017 - This is in part because the investment return assumption is used to “discount ” the estimate of future benefit payments (liabilities) —in other words, to produce an estimate of the present value of future liabilities.
https://lao.ca.gov/Publications/Report/3662

Volatility of the Personal Income Tax Base

Feb 8, 2017 - In other words, in the year the withdrawals happen, this income is counted in the PIT base, but not in BEA personal income. Summary. Figure  3 summarizes what is counted in BEA personal income versus the categories of income in California ’s PIT base, using our office ’s most recent estimates for 2016.
https://lao.ca.gov/Publications/Report/3548

The 2022-23 Budget: Initial Comments on the Governor's May Revision

May 16, 2022 - (In other words, a SAL requirement is the amount of revenue the state is required to allocate in ways that meet its constitutional requirements under Proposition  4.) Specifically, SAL requirements can only be met with: Tax Reductions or Tax Refunds.
https://lao.ca.gov/Publications/Report/4598

Updating Special Education Out-of-Home Care Funding

Feb 23, 2021 - In other words, for the past several years, Out ‑of ‑Home Care funding has not accounted for changes in foster youth counts in each SELPA, the placement of more foster youth with resource families, or the replacement of group homes with STRTPs.
https://lao.ca.gov/Publications/Report/4386