The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - This year, for example, our outlook reflects our best estimates of the effects of H.R. 1: One Big Beautiful Bill Act on the state budget but does not make assumptions about future federal policy changes.
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 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The 2021-22 Budget: Initial Comments on the Governor’s May Revision $1,137 $465 Note: This reflects our best understanding as of May 15, 2021; however, we are still receiving information from the administration about these proposals.
https://lao.ca.gov/Publications/Report/4432/2

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The 2021-22 Budget: Initial Comments on the Governor’s May Revision $2,099 $510 Note: This reflects our best understanding as of May 15, 2021; however, we are still receiving information from the administration about these proposals.
https://lao.ca.gov/Publications/Report/4432/5

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The 2021-22 Budget: Initial Comments on the Governor’s May Revision $ 2,990 $217 Note: This reflects our best understanding as of May 15, 2021; however, we are still receiving information from the administration about these proposals.
https://lao.ca.gov/Publications/Report/4432/6

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The 2021-22 Budget: Initial Comments on the Governor’s May Revision $7,246.0 $157.1 Note: This reflects our best understanding as of May 15, 2021; however, we are still receiving information from the administration about these proposals.
https://lao.ca.gov/Publications/Report/4432/7

California's Legislative Analyst's Office and the Value of Independence

Nov 15, 2024 - Our purpose is not to align with the executive branch but to provide the Legislature with the independent, critical analysis it needs to make informed decisions that best serve the public interest. Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4938

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Based on current information, our best estimate is that revenues for these two years will be roughly $10 billion lower. Budget Problem Likely About $7   Billion Higher —Requiring Additional Solutions .
https://lao.ca.gov/Publications/Report/4687

The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - We analyzed those proposals from that perspective, concluding that, if the state’s goal was to achieve more savings and improve the budget’s multiyear condition, making payments to CalPERS—notCalSTRS—would be best choice.
https://lao.ca.gov/Publications/Report/4196

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - This year, as always, we advise adopting the best possible revenue estimate based on all available economic and revenue data. We do not view revenue uncertainties as a cause for inaction or a reason to adopt optimistic revenue assumptions.
https://lao.ca.gov/Publications/Report/4769