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

Feb 27, 2012 - The 2012-13 Budget: Economic and Revenue Update [Publication Details] Video Description: There are plenty of mixed signals in economic data for California’s policymakers, as they continue to craft state and local budgets in a constrained fiscal environment.
https://lao.ca.gov/Publications/Detail/2578

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Frequently asked questions concerning Facebook and California's General Fund Frequently asked questions concerning Facebook and California's General Fund Program: Revenues Finding or Recommendation: This item lists answers to frequently asked questions concerning Facebook's stock and California's General Fund budget for 2012-13.
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - State tax revenue estimates regarding Facebook, therefore, require numerous assumptions. Because of these factors, there is a large margin of error surrounding both our Facebook revenue estimates and those of the administration.
https://lao.ca.gov/Recommendations/Details/596

Summary of LAO Findings and Recommendations on the 2012-13 Budget

Essentially, to avoid “double counting ” the Facebook income, this means that both of our revenue estimates consider the economy without Facebook and then add PIT revenues on top of those estimates to account for the IPO.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

The 2025-26 Budget: Higher Education Overview

Feb 6, 2025 - Recommend Signaling More Realistic Budget Expectations for CSU and UC in 2026 ‑27. To balance the budget in 2024 ‑25, the state applied small General Fund reductions to CSU and UC. At  the same time, the state provided a clear signal to CSU and UC that they were to begin planning for deeper base reductions in 2025 ‑26.
https://lao.ca.gov/Publications/Report/4957

Background information on LAO's May 2012 economic and revenue forecasts

May 18, 2012 - Figure 6 compares the LAO May 2012 revenue estimate related to the Facebook IPO with those in other recent forecasts. The IPO was announced in February and thus was not included in the Governor ’s January 2012 forecast. ( Additional information on our May 2012 Facebook IPO revenue forecast was published on this website on May 15.)
https://lao.ca.gov/Recommendations/Details/599

Updated "Big Three" Revenue Outlook [EconTax Blog]

Aug 21, 2023 - The state has added no jobs so far in 2025. Similarly, consumer spending (measured by inflation‑adjusted retail sales and taxable sales) has consistently declined. These conditions have weighed on sales tax collections in particular, which have moved sideways for multiple years.
https://lao.ca.gov/LAOEconTax/Article/Detail/777

Updated "Big Three" Revenue Outlook [EconTax Blog]

Aug 21, 2023 - The state has added no jobs so far in 2025. Similarly, consumer spending (measured by inflation‑adjusted retail sales and taxable sales) has consistently declined. These conditions have weighed on sales tax collections in particular, which have moved sideways for multiple years.
https://lao.ca.gov/LAOEconTax/article/Detail/777

The 2023-24 Budget: California State University

Feb 7, 2023 - Recommend Also Signaling Enrollment Growth Intentions for 2024 ‑25. Given the timing of the admissions cycle, we recommend the Legislature also signal any intent for additional enrollment growth in 2024 ‑25 in the 2023 ‑24 Budget Act .
https://lao.ca.gov/Publications/Report/4671

Did California Enter a Recession Last Fall? [EconTax Blog]

Oct 3, 2023 - Adding to this, the state version of a commonly-used recession  indicator  triggered on in the first quarter of 2023.  This indicator, known as the Sahm Rule, has historically triggered on between one quarter before and one quarter after the start of a recession.  
https://lao.ca.gov/LAOEconTax/Article/Detail/785