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

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - During the special session, the Legislature amended existing Control Section 5.25 and also added Control Section 5.26 to the 2024 ‑25 Budget Act , providing a total of up to $50  million one ‑time General Fund for legal and administrative activities that address federal actions impacting the state.
https://lao.ca.gov/Publications/Report/5079

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

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

May 17, 2025 - Moreover, we recommend avoiding committing to new activities. Finally, although we have not previously recommended the Leg islature take decisive action to address the structural deficits, the state ’s persistent fiscal imbalance and the added downside risks —particularly from potential federal actions —suggest a need for a more proactive approach.
https://lao.ca.gov/Publications/Report/5044

The 2019-20 Budget: Proposition 98 Outlook

Nov 14, 2018 - State Typically Sets Aside Some Funding Each Year for One ‑Time Activities. Although the state could allocate all available Proposition  98 funding for ongoing programs, in practice it has tended to set aside some funding for one ‑time activities.
https://lao.ca.gov/Publications/Report/3897

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Outside of government and health care, the state has added no jobs in a year and a half. Similarly, the number of Californians who are unemployed is 25  percent higher than during the strong labor markets of 2019 and 2022.
https://lao.ca.gov/Publications/Report/4939

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

Rethinking California's Reserve Policy

Apr 10, 2025 - This share is determined by a complex set of formulas that can lower excess capital gains by anywhere from 0 percent to 100 percent, although reductions around 30 percent have been the most common to date.
https://lao.ca.gov/Publications/Report/5028

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - The budget provides $ 19  m illion to annualize the cost of 2, 959 p reschool slots added April 1, 2018. The budget also provides $ 8  m illion for 2, 959 n ew full ‑day State Preschool slots at LEAs starting April  1, 2019.
https://lao.ca.gov/Publications/Report/3870/4

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - Throughout the economic expansion, policymakers maintained a focus on enhancing fiscal resilience by adding significantly to the state ’s budget reserves. While the Governor ’s January budget proposed a total reserve level of around $20  billion for June  2021, the adjusted level after the recent declines in the stock market likely will be several billion dollars lower.
https://lao.ca.gov/Publications/Report/4203