The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - In June 2024, the Legislature not only addressed the budget problem for 2024 ‑25 but also proactively adopted solutions intended to reduce the anticipated shortfall in 2025 ‑26. At the time, the June 2024 budget package included $28  billion in budget solutions for 2025 ‑26, although savings from some of these actions have since diminished.
https://lao.ca.gov/Publications/Report/5079

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The state solved a $27  billion deficit in 2023 ‑24, a $55  billion deficit in 2024 ‑25, and a $15  billion deficit in 2025 ‑26 (in addition to roughly $28  billion in proactive budget ‑balancing actions taken the year before).
https://lao.ca.gov/Publications/Report/5091

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

May 17, 2025 - In June 2024, the Legislature not only addressed the 2024 ‑25 budget problem, but also took proactive steps to mitigate the anticipated 2025 ‑26 budget challenge. The June 2024 budget package included $28  billion in budget solutions for 2025 ‑26, although savings from some of these actions have since diminished.
https://lao.ca.gov/Publications/Report/5044

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

Jan 12, 2026 - As such, the administration ’s revenue estimate exceeds ours by almost $30  billion across the budget window (2024 ‑25 through 2026 ‑27). This  higher revenue assumption substantially improves the budget condition relative to our forecast and is the main driving difference between our estimates of the deficit.
https://lao.ca.gov/Publications/Report/5101

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - Legislative Action in June 2024 Addressed Anticipated Budget Problem Proactively. In  June of 2024, the Legislature not only addressed the budget problem for 2024 ‑25, but also made proactive decisions to address the anticipated budget problem for 2025 ‑26.
https://lao.ca.gov/Publications/Report/4951

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - We identify some of the major actions taken in the 2024-25 budget process below. General Fund Reductions. The budget reflects $14.5  million in General Fund reductions in 2024-25 (declining to $1.6  million in 2027-28 and ongoing).
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - We identify some of the major actions taken in the 2024-25 budget process below. General Fund Reductions. The budget reflects $14.5  million in General Fund reductions in 2024-25 (declining to $1.6  million in 2027-28 and ongoing).
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The 2024-25 Budget: Overview of the Spending Plan 1001 Bargaining unit agreements Note: This figure includes budget bills and trailer bills identified in Section 39.00 in the  2024 ‑25 Budget Act  that were passed by the Legislature after July 2, 2024.
https://lao.ca.gov/Publications/Report/4922

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Total pay grew at a well above ‑average rate in the first half of 2024. The first quarter was especially strong, with 17  percent annualized growth in total pay, among the sharpest quarterly growth rates on record.
https://lao.ca.gov/Publications/Report/4939

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - The 2024-25 Budget: Proposition 2 Debt Payment Proposals CalPERS CalPERS administers pension benefits for more than 900,000 active employees and nearly 700,000 retired members. As of January 2024, the system has $483  billion in assets.
https://lao.ca.gov/Publications/Report/4887