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

Feb 4, 2026 - In October 2010, the state recognized a $1.8  billion increase to its previous estimate of the 2009 ‑10 guarantee. It made an initial payment of $300  million but did not schedule any future payments.
https://lao.ca.gov/Publications/Report/5110

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

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

The 2010-11 Budget: Proposition 98 and K-12 Education [Publication Details]

Feb 25, 2010 - The 2010-11 Budget: Proposition 98 and K-12 Education [Publication Details] Video Description: Though the Governor portrays his 2010-11 budget proposal as protecting education, his plan would affect areas of education quite differently—significantly reducing funding for child care and K-12 education while augmenting funding for most higher education programs.
https://lao.ca.gov/Publications/Detail/2208

The 2018-19 Budget: Charter School Facility Grant Program

Apr 23, 2018 - Prior to 2010 ‑11, CSFGP provided reimbursements for prior-year costs. Starting in 2010 ‑11, the state transitioned CSFGP from operating on a reimbursement basis to providing grants for current-year costs.
https://lao.ca.gov/Publications/Report/3812

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