The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal - The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal [Video]

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal February 24, 2016 Watch it on YouTube .
https://lao.ca.gov/Videos/Player?playlistId=101

The 2016-17 Budget: California's Fiscal Outlook - California's Fiscal Outlook [Video]

View  this video on   YouTube . Video Selection California 's Fiscal Outlook Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Videos/Player?playlistId=95

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: 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 2021-22 Budget: California's Fiscal Outlook

Nov 18, 2020 - The bulk of likely outcomes are below the breakeven point, suggesting the budget is quite likely to face an operating deficit under current law and policy.
https://lao.ca.gov/Publications/Report/4297

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Our analysis suggests this level of revenue is quite unlikely —there is only a one ‑in ‑five chance the state can afford that spending level. Baseline Budget More Likely to Be Affordable in Coming Years.
https://lao.ca.gov/Publications/Report/4687

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: Initial Comments on the Governor's May Revision

May 17, 2025 - 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 2021-22 Budget: The Governor’s Suspension Proposal

Jan 29, 2021 - Both our office and the administration anticipate an operating deficit is quite likely to emerge in the coming years. In our November Fiscal Outlook , we found the state faces large and growing multiyear operating deficits over the outlook period.
https://lao.ca.gov/Publications/Report/4328

The 2022-23 Budget: Multiyear Budget Outlook

May 24, 2022 - These findings are quite similar to the Department of Finance’s ( DOF’s) estimates . Under the administration’s assumptions, the state would have two years of narrow operating surpluses and one year of an operating deficit.
https://lao.ca.gov/Publications/Report/4602