The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The 2026-27 Budget: California's Fiscal Outlook Executive Summary Not Safe to Bet Artificial Intelligence ( AI) Fueled Exuberance Is Sustainable. 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

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - One path is falling interest rates and expansion of money available for lending and investment. A key driver of California ’s economic slump over the last two years has been the Federal Reserve ’s efforts to tamp down inflation by raising interest rates and shrinking how much money is available for lending and investment.
https://lao.ca.gov/Publications/Report/4939

The 2019-20 Budget: Structuring the Budget: Reserves, Debt and Liabilities

Feb 5, 2019 - Specifically, if the state transfers these funds to a pension system, the system ’s board can invest the funds, likely earning a higher rate of return than the funds would earn invested as state reserves.
https://lao.ca.gov/Publications/Report/3925

The 2021-22 California Spending Plan: The State Appropriations Limit

Aug 30, 2021 - The Legislature can use excess revenues in three ways: (1)  appropriate more money for purposes excluded from the state appropriations limit (SAL), (2)  split the excess between additional school and community college district spending and taxpayer rebates, or (3)  lower tax revenues.
https://lao.ca.gov/Publications/Report/4449

Federal Spending in California

Jan 18, 2017 - This total includes roughly $3 billion in funds for the Children ’s Health Insurance Program (CHIP), which provides healthcare coverage to children in families who earn too much money to qualify for Medi-Cal.
https://lao.ca.gov/Publications/Report/3531/4

The 2019-20 Budget: Undoing California’s Outstanding Budgetary Deferrals

Mar 26, 2019 - Depositing Money Into Reserves Generates Interest Payments. Money held in the state ’s cash reserves is not idle. The State Treasurer ’s Office (STO) invests state funds, including reserves, in the Pooled Money Investment Account (PMIA), generating an investment return.
https://lao.ca.gov/Publications/Report/3988

The 2019-20 Budget: California Spending Plan—Debt Liabilities

Oct 17, 2019 - An unfunded liability exists when actuaries determine that —after accounting for various actuarial assumptions about the future —there are insufficient assets on hand to pay benefits that have been earned to date.
https://lao.ca.gov/Publications/Report/4106

The 2019-20 Budget: California Spending Plan (Final Version)

Oct 17, 2019 - Implements Improvements to Department of Motor Vehicles (DMV) REAL ID Workload and Operations. The budget includes $ 260  m illion from the Motor Vehicle Account for DMV to process driver licenses and ID cards that comply with federal standards —commonly referred to as “REAL IDs ” —and to implement various operational improvements.
https://lao.ca.gov/Publications/Report/4083

The 2018-19 Budget: Repaying the CalPERS Borrowing Plan

Apr 4, 2018 - For instance, most special fund loans carry a fixed interest rate equal to the investment earnings rate of the PMIA on the day the loan was made. (In recent years, this rate has averaged 0. 5  p ercent, although it has risen in recent months.)
https://lao.ca.gov/Publications/Report/3797