The 2026-27 Budget: How to Use One-Time Revenue Improvements [Publication Details]

Feb 20, 2026 - The 2026-27 Budget: How to Use One-Time Revenue Improvements [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5133

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

Feb 20, 2026 - The 2026-27 Budget: How to Use One-Time Revenue Improvements The 2026-27 Budget How to Use One-Time Revenue Improvements Recent stock market performance continues to boost income tax collections. In our Fiscal Outlook , we strongly advised the Legislature to treat near-term strength in tax collections as temporary because we expect these gains to reverse.
https://lao.ca.gov/Publications/Report/5133

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - AI Enthusiasm Boosting Revenues, but for How Long? Middling Corporation and Sales Tax Collections in Line With Generally Weak Economic Conditions. Both the California and U.S. economies currently face significant headwinds.
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

Rethinking California's Reserve Policy

Apr 10, 2025 - If the Legislature adopts a reserve policy that performs well in half of scenarios but poorly in the other half (that is, we use the median scenario as a benchmark), it would mean there is something like a coin ‑flip chance that the policy would achieve its desired outcomes.
https://lao.ca.gov/Publications/Report/5028

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

Oct 2, 2018 - Key components of the master plan include ( 1)  a n assessment of current demand for services, ( 2)  p rojecting future long ‑term care needs among California ’s veterans, and ( 3)  d etermining how to align the veterans homes system to meet current and future demand across all levels of care.
https://lao.ca.gov/Publications/Report/3870/12

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Because of how sensitive California ’s revenues are to stock market performance, the Governor ’s approach yields a revenue estimate that is $30  billion above that of our office. Regardless of the revenue assumption used in the 2026-27 budget, both our office and the Governor ’s Department of Finance (DOF) agree that the state faces large structural deficits.
https://lao.ca.gov/Publications/Report/5104

California’s Strong Revenue Trends Mask Looming Budget Risk [Publication Details]

Jan 23, 2026 - In this installment of Fiscal Perspectives, the Legislative Analyst describes how the LAO’s revenue estimates represent a hedge against downside stock market risk and why—despite current cash trends—caution matters given the state’s large, ongoing structural deficit.
https://lao.ca.gov/Publications/Detail/5104

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - In this publication we: provide an overview of the 2025 ‑26 budget package, give a brief description of how the budget process unfolded, and then highlight the major features of the budget approved by the Legislature and signed by the Governor.
https://lao.ca.gov/Publications/Report/5079

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - We recommend that the Legislature ask the administration to lay out how Medi ‑Cal Healthier California for All affects other programs and planning initiatives, such as the Governor ’s Master Plan for Aging and efforts related to homelessness.
https://lao.ca.gov/Publications/Report/4135