The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - This Time Might Be Different, but It Is Not Safe to Bet on It. With so much enthusiasm surrounding AI, it now appears time to take seriously the notion that the stock market has become overheated. History suggests that the stock market is prone to overreact to major technological advances, even if the technology itself turns out to be revolutionary.
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 - A budget problem is inherently a point ‑in ‑time estimate that reflects information available at the time of development, forecasts of future revenues and spending, and assumptions about which cost changes reflect current law and policy (referred to as “baseline changes ”).
https://lao.ca.gov/Publications/Report/5079

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - After fulfilling constitutional obligations for spending on schools and debt, the Governor also allocated about $ 1  b illion in discretionary resources to other spending proposals, mostly one time in nature.
https://lao.ca.gov/Publications/Report/3870/2

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Finally, it maintains the remaining OPR programs in the newly renamed Governor ’s Office of Climate and Land Use Innovation. The budget does not include additional funding to implement these changes.
https://lao.ca.gov/Publications/Report/4922

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - The 2018-19 Budget: California Spending Plan (Final Version) California Spending Plan (Final Version) Chapter 1: Key Features of the 2018-19 Budget Package Each year, our office publishes the California Spending Plan to summarize the annual state budget.
https://lao.ca.gov/Publications/Report/3870

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

Jan 13, 2025 - Finally, the Governor sets the balance of the Special Fund for Economic Uncertainties to $4.5   billion —somewhat higher than the level enacted by recent budgets. Revenue Estimates Reasonable, but Risks Must Be Kept in Focus.
https://lao.ca.gov/Publications/Report/4951

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - The 2023-24 Budget: Overview of the Spending Plan (Final Version) Overview of the Spending Plan (Final Version) Appendix 4: Large One-Time and Temporary Augmentations Transportation Appendix 4, Figure 1 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Business and Labor General
https://lao.ca.gov/Publications/Report/4788/4

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - A final complication is the state ’s conformity to the federal Internal Revenue Service rule change that, as a response to the January floods, delayed the 2022 tax filing deadline to October from April.
https://lao.ca.gov/Publications/Report/4762

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - Second, by further reducing one-time and temporary spending, the Governor leverages a “use it or lose it ” tool that improves budget resilience. Finally, the Governor proposes new statutory language that would temporarily set aside anticipated surplus revenues for at least a year.
https://lao.ca.gov/Publications/Report/4902