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

Revenue Volatility and California’s Reserve Policy [Publication Details]

Feb 18, 2026 - Senate Committee on Budget and Fiscal Review
https://lao.ca.gov/Publications/Detail/5125

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The added risk variable weighs on the range of revenue outcomes that we view as most plausible. The middle of the range, which becomes our main revenue forecast, is thus lower than if we did not include the stock market risk indicator.
https://lao.ca.gov/Publications/Report/5104

Senate Handout: Overview of the Governor’s Budget [Publication Details]

Jan 21, 2026 - Senate Budget and Fiscal Review
https://lao.ca.gov/Publications/Detail/5103

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - During the special session, the Legislature added Control Sections 90.00 and 90.01 to the 2024 ‑25 Budget Act providing up to $2.5  billion one ‑time for response and recovery costs related to the January 2025 Southern California wildfires.
https://lao.ca.gov/Publications/Report/5079

The 2026-27 Budget: Overview of the Governor's Budget [Publication Details]

Jan 12, 2026 - On January 9, 2026, Governor Newsom’s administration presented its proposed state budget to the California Legislature. In this report, we provide a high-level summary and our initial analysis of the Governor’s budget based on our preliminary review (as of January 10). Assembly Budget Handout (PDF) Senate Budget and Fiscal Review Handout (PDF)
https://lao.ca.gov/Publications/Detail/5101

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - In this report, we provide a high ‑level summary and our initial analysis of the Governor ’s budget based on our preliminary review (as of January 10). In the coming weeks, we will analyze the plan in more detail and release many additional issue ‑specific budget analyses.
https://lao.ca.gov/Publications/Report/5101

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - We begin by reviewing the evolution of the budget condition, detailing how the outlook deteriorated from roughly balanced in January to a deficit today. Then, we summarize the proposals the Governor puts forward to address the budget problem.
https://lao.ca.gov/Publications/Report/5044

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

Nov 15, 2024 - As such, our independent fiscal assessment underlies the Legislature ’s ability to assert an informed check on the executive branch, making any added complexity from diverging estimates a worthwhile trade-off.
https://lao.ca.gov/Publications/Report/4938

The 2025-26 Budget: Overview of the Governor’s Budget [Publication Details]

Jan 30, 2025 - Presented to: Senate Committee on Budget and Fiscal Review
https://lao.ca.gov/Publications/Detail/4953