The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The budget ’s bottom line is the accumulated change in General Fund revenues and spending across the three fiscal years in the budget window —2024 ‑25, 2025 ‑26, and 2026 ‑ 27 —and reflected in the ending balance in the Special Fund for Economic Uncertainties in  2026 ‑27.
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: California's Fiscal Outlook

Nov 20, 2024 - This is entirely due to improving income tax collections, which would, under our forecast, end the current year 20  percent higher than two years ago. That being said, the ultimate outcome is highly uncertain.
https://lao.ca.gov/Publications/Report/4939

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - …Which Likely Will Be Offset Partially by Other Savings Resulting From the End of the PHE Declaration. With the assumed expiration of the enhanced federal funding at the end of March 2022, the continuous coverage requirement also will end.
https://lao.ca.gov/Publications/Report/4474

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Other Medi-Cal solutions aim to constrain costs —for instance, increasing pharmacy rebates —and end some forms of additional rate and service payments. One of the other large areas of solutions is in In-Home Supportive Services (IHSS).
https://lao.ca.gov/Publications/Report/5052

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - Department of Health and Human Services did not notify states the PHE would end in January. Given the federal administration committed to providing states 60 days ’ notice regarding the end of the public health emergency, the PHE is likely to remain in place after January 2023.
https://lao.ca.gov/Publications/Report/4646

An Update on California’s Cash Management Situation

Aug 31, 2020 - Depending on whether the month ends with business days or not, there can be a one to four day delay between when payments are received by the tax agencies and when those payments are reported by the Controller.
https://lao.ca.gov/Publications/Report/4266

Managing California’s Cash

Sep 3, 2019 - Cycle Ends With Authorization of Economic Recovery Bonds (ERBs). The cycle of overlapping RANs and RAWs ended in 2004 when voters authorized $ 15  b illion in long ‑term bonds, known as ERBs, to pay off the state ’s accumulated budget deficits.
https://lao.ca.gov/Publications/Report/4092

Rethinking California's Reserve Policy

Apr 10, 2025 - The balance of the SFEU is determined by the annual budget act and essentially functions like the ending fund balance of the General Fund. The SFEU is therefore somewhat akin to the year ‑end unallocated surpluses of the 1950s through 1970s.
https://lao.ca.gov/Publications/Report/5028

The 2015-16 Budget: Major Features of the Adopted Plan (Overview of Adopted Plan)

Jun 19, 2015 - The budget ends 2015‑16 with $4.6  billion in estimated total reserves, including $1.1  billion in the Special Fund for Economic Uncertainties —the state ’s traditional budget reserve —and $3.5  billion in the BSA.
https://lao.ca.gov/Publications/Report/3279