The 2024-25 Budget: Multiyear Budget Outlook [Publication Details]

May 23, 2024 - This post presents our office’s forecast of the condition of the state General Fund budget through 2027-28 under our revenue estimates and assuming the Governor’s May Revision policies were adopted.
https://lao.ca.gov/Publications/Detail/4907

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - The light green line shows the amount of revenue the state would need to “break even ” —that is, the level of revenue the state would need to be able to afford the level of spending proposed in the May Revision.
https://lao.ca.gov/Publications/Report/4907

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

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/4902/1

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

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/4902/2

The 2024-25 Budget: Initial Comments on the Governor’s May Revision [Publication Details]

May 17, 2024 - On May 14, 2024, Governor Newsom presented a revised state budget proposal to the Legislature. This annual proposed revised budget is referred to as the May Revision. In this brief, we provide a summary of and comments on the Governor’s revised budget, focusing on the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Detail/4902

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

May 17, 2024 - The State Constitution ’s balanced budget provision prohibits the state from enacting a negative SFEU balance for the upcoming fiscal year, in this case, 2024-25. While historically the state mostly has enacted SFEU balances between $1  billion and $4  billion, the Legislature can choose to set the balance at any level above zero.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 20, 2024 - This report evaluates the Governor’s Proposition 2-related debt and liabilities payment proposals.
https://lao.ca.gov/Publications/Detail/4887

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Accordingly, the state annually makes supplemental pension payments from the General Fund towards the state ’s pension unfunded liabilities. Proposition 2 Proposition   2 Contains Annual Debt Payment Requirement.
https://lao.ca.gov/Publications/Report/4887

The 2024-25 Budget: Deficit Update [Publication Details]

Feb 20, 2024 - This report provides an update on the size of the state deficit based on our recent revenue projections and provides options for the Legislature to address that larger deficit.
https://lao.ca.gov/Publications/Detail/4850

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - For example, the administration frequently displayed “operating surpluses ” in its multiyear forecasts excluding this type of spending —implying that the administration understood that the state could not afford all of the commitments under its own projections, but the state could afford the ongoing budget.
https://lao.ca.gov/Publications/Report/4850