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

May 17, 2024 - The SFEU is the state ’s operating reserve and essentially functions like an end-of-year balance. 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.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - (Our earlier analysis, The 2024‑25 Budget: Initial Comments on the Governor’s May Revision , differed in two ways: (1) it provided our assessment of the budget condition in 2024‑25 only, and (2) it was predicated on the administration’s revenue estimates.)
https://lao.ca.gov/Publications/Report/4907

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - This reduction includes $9.6  billion in 2022 ‑23, $7 billion in 2023 ‑24, and $4.4 billion in 2024 ‑25. The magnitude of the downward revision in 2022 ‑23 is unprecedented for a fiscal year that is already over.
https://lao.ca.gov/Publications/Report/4819

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - That is, all of the savings associated with the payment would accrue to 2024 ‑25 with zero benefit to future years. Proposed Use of 2023 ‑24 Payment Appears to Violate Constitution by Supplanting State Contribution in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4887

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - We define a delay as an expenditure reduction that occurs in the budget window (2022 ‑23 through 2024 ‑25), but has an associated expenditure increase in a future year of the multiyear window (2025 ‑26 through 2027 ‑28).
https://lao.ca.gov/Publications/Report/4825

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - The 2024-25 Budget: Deficit Update Deficit Update Under LAO Revenue Update, Budget Problem Grows by $15  Billion The state already faces a significant deficit this year — we estimate it totaled $58 billion under the administration’s revenue forecast at the time the Governor’s budget was proposed in January.
https://lao.ca.gov/Publications/Report/4850

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - As a result, the Legislature would need to address this additional budget problem as part of the 2024 ‑25 budget process. (This would add to the double ‑digit budget problem for 2024 ‑25 already projected under both our and the administration ’s estimates, as we describe below.)
https://lao.ca.gov/Publications/Report/4772

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - Appendix 1, Figure 4 Reversions Proposed in the 2024 ‑25 Governor ’s Budget General Fund (In Millions)
https://lao.ca.gov/Publications/Report/4825/1

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

Oct 16, 2023 - The 2022 ‑23 budget package also included intent language to provide an additional $2.1   billion in 2023 ‑24 and $875   million in 2024 ‑25. The budget provides about $2   billion to the SFP in 2023 ‑24, which is $100   million less than the previously intended augmentation, and continues to assume an additional $875   million will be provided in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4788

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - On the other hand, we do reflect spending on school facilities of $2  billion in 2023 ‑24 and $875  million in 2024 ‑25, and broadband spending of $300  million in 2023 ‑24 and $250  million in 2024 ‑25, in which enacted legislative intent language met our criteria.
https://lao.ca.gov/Publications/Report/4646