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

Jan 12, 2026 - Some of the largest spending augmentations proposed for the budget window include: (1) $76 million for utility replacement and site improvements at Exposition Park, (2) $67 million to the California Department of Forestry and Fire Protection for fixed‑wing aircraft pilot and mechanics contract increases, (3) $60 million to the Department of Health Care Access and Information for
https://lao.ca.gov/Publications/Report/5101

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

Feb 20, 2026 - For example, we recommend the Legislature: Do Not Suspend the $3  Billion True Up Into the Budget Stabilization Account (BSA). The Governor ’s budget proposes suspending a roughly $3  billion true-up deposit that otherwise would be required in 2025-26.
https://lao.ca.gov/Publications/Report/5133

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The current discrepancy over the size of the state ’s budget deficit —$18  billion under the Legislative Analyst ’s Office estimate versus $3  billion in the Governor ’s budget —fits squarely within that pattern.
https://lao.ca.gov/Publications/Report/5104

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Figure 4 State ’s New Borrowing to Balance the Budget (In Billions)
https://lao.ca.gov/Publications/Report/5052

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

Jan 13, 2025 - The proposal would then provide a like amount of funding from Proposition  4, the climate bond approved by voters in November 2024. This  would result in maintaining prior funding levels for these activities but would preclude this amount of Proposition  4 funds from supporting expanded service levels or additional projects.
https://lao.ca.gov/Publications/Report/4951

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - The estimate of the requirement for 2024 ‑25 is up nearly $4.7  billion (4  percent) from the June 2024 level, but the budget appropriates just over $2.7  billion in additional funding for that year.
https://lao.ca.gov/Publications/Report/5079

Rethinking California's Reserve Policy

Apr 10, 2025 - Throughout this period, as shown on the right side of Figure  3, the SFEU balance was generally enacted around 1  percent to 3  percent of revenues —very small compared to the reserves and surpluses of the decades before.
https://lao.ca.gov/Publications/Report/5028

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - Figure 3 General Fund Condition Under Fiscal Outlook (In Millions)
https://lao.ca.gov/Publications/Report/5091

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

May 17, 2025 - The May Revision reduces planned base cuts from 7.95  percent, as agreed to in last year ’s budget, to 3  percent. This change increases ongoing General Fund costs by $267  million for UC and $231  million for CSU.
https://lao.ca.gov/Publications/Report/5044

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - This fiscal oversight requires assessing (1)  what the key program goals and expected outcomes are, (2)  the extent to which programs are delivering those expected outcomes, (3)  whether programs ’ costs align with expectations, and (4)  whether the benefits justify the costs.
https://lao.ca.gov/Publications/Report/4983