California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

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

Jan 12, 2026 - After 2026‑27, these proposals would add about $200 million in ongoing spending. Some of the largest spending augmentations proposed for the budget window include: (1) $76 million for utility replacement and site improvements at Exposition Park, (2) $67 million to the California Department of Forestry and Fire Protection for fixed‑wing aircraft pilot and mechanics contract
https://lao.ca.gov/Publications/Report/5101

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - DOF has not yet received official claims from all affected local governments, but early estimates indicate expenditures for these purposes could be around $200  million across the 2024 ‑25 and 2025 ‑26 budget years.
https://lao.ca.gov/Publications/Report/5079

The 2016-17 Budget: Initial Comments on the Governor’s May Revision

May 15, 2016 - Sets aside $500  million ($200  million General Fund) for future collective bargaining agreements. Reduces estimate of required Proposition  2 debt payments by $264  million. Includes $24.5  million for rehabilitation programs for state ’s inmate population.
https://lao.ca.gov/Publications/Report/3460

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Specifically, the budget cuts $400   million from the Active Transportation Program, $200   million planned for grade separation projects, and $75   million from the Highways ‑to ‑Boulevards Pilot Program.
https://lao.ca.gov/Publications/Report/4922

Fiscal Outlook: Medi-Cal

Nov 15, 2017 - Starting in 2019-20, however, a reduction of California ’s CHIP FMAP from 88  percent to 76.5  percent would increase General Fund costs by $100  million to $200  million relative to prior years that had the ACA-enhanced FMAP.
https://lao.ca.gov/Publications/Report/3715

The 2019-20 Budget: California Spending Plan—Debt Liabilities

Oct 17, 2019 - Chapter  33 of 2019 (SB  90, Committee on Budget and Fiscal Review) appropriates a General Fund supplemental payment to CalPERS in 2018 ‑19 ($2.5  billion), 2020 ‑21 ($265  million), 2021 ‑22 ($200  million), and 2022 ‑23 ($35  million).
https://lao.ca.gov/Publications/Report/4106

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - Total reserves in the final budget package were about $200  million lower than reserves proposed by the Governor in the May Revision. The budget package also reflected various choices that shifted spending priorities compared to the Governor ’s proposal.
https://lao.ca.gov/Publications/Report/3694/2