The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - There are three reasons these actions are now critical. First, the budget problem is now larger than anticipated, despite improvements in revenue, and the structural deficits are significant and growing.
https://lao.ca.gov/Publications/Report/5091

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

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - All figures in this publication reflect the administration ’s estimates of actions taken through early July 2025, however, we have updated the text to reflect actions taken later in the legislative session.
https://lao.ca.gov/Publications/Report/5079

The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - Alternatively, or in combination with the above actions, the Legislature could use windfall resources to repay budgetary borrowing undertaken in recent budgets. Although the state faces significant cost pressures due to reductions in federal funding, using one-time resources to backfill those ongoing reductions would put the state on even worse fiscal footing going forward.
https://lao.ca.gov/Publications/Report/5133

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 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Major Features of the 2024‑25 Spending Plan This section briefly describes the major spending actions in the 2024 ‑25 budget package, including some actions that were part of the early action package.
https://lao.ca.gov/Publications/Report/4922

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - In large part, this is because the Legislature took significant action last year to solve the budget problem anticipated for 2025-26. As a result, absent substantial changes to these estimates, the Legislature does not need to take any major additional actions this year to balance the budget.
https://lao.ca.gov/Publications/Report/4983

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/3

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/2

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/1