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

Building Reserves to Prepare for a Recession

Mar 7, 2018 - The administration currently estimates a very small “true down ” to the BSA in 2017 ‑18, although that may change at the time of the May Revision. (We believe there is significant upside to the administration ’s 2017 ‑ 18 r evenue estimates, which would result in a required true up deposit.)
https://lao.ca.gov/Publications/Report/3769

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - Figure 2 LAO May 2018 Economic Growth Scenario a Percent Change Unless Otherwise Indicated 2017
https://lao.ca.gov/Publications/Report/3829

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The Governor signed the 2017 ‑18 Budget Act and other budget ‑related bills between June  27, 2017 and September  28, 2017. These bills are detailed in Figure  5. The Governor did not veto any appropriations in the 2017 ‑18 Budget Act .
https://lao.ca.gov/Publications/Report/3694/2

Fiscal Outlook: Medi-Cal

Nov 15, 2017 - Lower General Fund Spending in Medi-Cal in 2017 ‑18 Relative to 2017 ‑18 Budget Act . In 2017 ‑18, we estimate General Fund Medi-Cal spending to be $18.9  billion. This estimate is around $625  million lower than what was assumed in the 2017 ‑18 Budget Act .
https://lao.ca.gov/Publications/Report/3715

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017-18 Budget: California Spending Plan California Spending Plan (Final Version) Each year, our office publishes the California Spending Plan to summarize the annual state budget. This publication discusses the 2017 ‑18 Budget Act and other major budget actions approved in 2017.
https://lao.ca.gov/Publications/Report/3694

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017-18 Budget: California Spending Plan (Final Version) Major Features of the 2017-18 Spending Plan The major features of the 2017 ‑18 budget package are shown in Figure  4 and briefly described below.
https://lao.ca.gov/Publications/Report/3694/1

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 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The state budget includes provisional language prohibiting UCOP from charging this assessment in 2017 ‑18 and requiring UCOP to certify that overall campus revenue will be greater in 2017 ‑18 than the prior year.
https://lao.ca.gov/Publications/Report/3694/5

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - Some of the major provisions of Chapter  27 of 2017 (SB  94, Committee on Budget and Fiscal Review) —amended by Chapter   253 of 2017 (AB  133, Committee on Budget) —provide the following: Allows for Vertical Integration, Including Self ‑Distribution.
https://lao.ca.gov/Publications/Report/3694/12