The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - CalSTRS is the world ’s largest educator ‑only pension system, administering the $315  billion Teachers ’ Retirement Fund for more than 1  million members and beneficiaries (as of June 2023). CalSTRS ’ 12 ‑member Teachers ’ Retirement Board (CalSTRS Board) administers the fund and is constitutionally responsible for overseeing the system ’s investment policies and ensuring that benefit payments are made on time and according to law.
https://lao.ca.gov/Publications/Report/4887

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - It remains to be seen whether this will occur, but there are some conceivable paths toward broader improvements. One path is falling interest rates and expansion of money available for lending and investment.
https://lao.ca.gov/Publications/Report/4939

The 2015-16 Budget: California Spending Plan

Oct 19, 2015 - In addition, CCC and CDE are to develop shared data agreements among state agencies, including the Employment Development Department and the California Workforce Investment Board. Statute specifies that performance measures must include improved literacy; attainment of high school diplomas or their equivalent; number of certifications, postsecondary degrees, or completion of training programs; job placement; and improved wages.
https://lao.ca.gov/Publications/Report/3302

Rethinking California's Reserve Policy

Apr 10, 2025 - Asset market downturns, like stock market drops or real estate slumps, can also reduce capital gains tax revenue and other investment ‑related income, lowering state revenue. Conversely, revenues can grow quickly in response to economic expansions or run ups in the stock market.
https://lao.ca.gov/Publications/Report/5028

The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - (If the system exceeded its investment target in a subsequent year the unfunded liability could be reduced or eliminated.) Using Proposition   2 t o make up for these investment losses would keep the plan on track.
https://lao.ca.gov/Publications/Report/4196

The 2019-20 Budget: Undoing California’s Outstanding Budgetary Deferrals

Mar 26, 2019 - The State Treasurer ’s Office (STO) invests state funds, including reserves, in the Pooled Money Investment Account (PMIA), generating an investment return. STO invests these funds in safe, short-term assets, like U.S.
https://lao.ca.gov/Publications/Report/3988

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - Many studies have been conducted on these types of programs, but there is no consensus among researchers about whether these programs improve the economic situations of residents in targeted communities.
https://lao.ca.gov/Publications/Report/4038

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Across the budget window (2023-24 to 2025-26), we estimate the budget condition improves by nearly $2  billion relative to the administration ’s projections. This modest improvement reflects our somewhat higher revenue estimates, partially offset by slightly higher projected spending.
https://lao.ca.gov/Publications/Report/5052

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Facility Maintenance and Improvement. The below budget augmentations were approved to support facility maintenance and improvement for Veterans Homes and the CalVet Headquarters. Headquarters Building Electrical Maintenance ($22  Million).
https://lao.ca.gov/Publications/Report/4814

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

May 17, 2025 - All Other Changes Improve Budget Bottom Line by $2   Billion. Across the rest of the budget, the administration estimates a net improvement of $2  billion to the General Fund bottom line. The  largest component is a $1.5  billion upward revision to the entering fund balance, primarily driven by higher ‑than ‑expected reversions of unspent funds and lower required Proposition  2 (2014) debt payments.
https://lao.ca.gov/Publications/Report/5044