The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - While our revenue forecast is designed to balance the risk of over- and underestimation, history shows that actual revenues can vary from our median projection by billions or even tens of billions of dollars over a multiyear period.
https://lao.ca.gov/Publications/Report/5052

The 2022-23 Budget: State Appropriations Limit Implications

Mar 30, 2022 - However, none of these, even all together, would indefinitely forestall the long ‑term reality of the state ’s constitutional constraints. The reality is that state tax revenues are growing faster than the limit and the size of state government has reached the limit set by voters in the 1970s.
https://lao.ca.gov/Publications/Report/4583

LAO Multiyear State Budget Outlook

May 20, 2016 - In reality, the budget will be better or worse off than we estimate depending on future economic conditions and future state policy changes. Assume Current State Policies, Plus Governor ’s May Revision Proposals.
https://lao.ca.gov/Publications/Report/3472

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - The dark line shows the administration ’s forecast of revenues in the May Revision. 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

Rethinking California's Reserve Policy

Apr 10, 2025 - The figure below shows how the state ’s reserve policy would perform under our recommended alternatives. As it shows, we estimate our recommendations would allow the state to cover about three ‑quarters of funding shortfalls over the next 50 years.
https://lao.ca.gov/Publications/Report/5028

The 2022-23 California Spending Plan: The State Appropriations Limit

Sep 30, 2022 - Figure  2 shows estimates of the appropriations limit, appropriations subject to the limit, and the resulting room under the limit at each point in the 2022-23 budget process. (Where applicable, the figure also shows excess revenues, which are calculated over a two-year period.)
https://lao.ca.gov/Publications/Report/4631

The 2022-23 Budget: Initial Comments on the Governor's May Revision

May 16, 2022 - Figure  7 shows the state ’s final SAL position after accounting for all of the May Revision proposals. As the figure shows, 2020 ‑21 would end with “negative room ” (appropriations subject to the limit above the limit) of $17  billion.
https://lao.ca.gov/Publications/Report/4598

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - As  the  figure shows, the budget primarily relies on borrowing to close the gap, representing about two ‑thirds of the total solutions. (We describe our use of this term in more detail below.) After borrowing, spending ‑related solutions, including both reductions and fund shifts, total $5  billion and represent nearly all of the remaining one ‑third of the total solutions.
https://lao.ca.gov/Publications/Report/5079

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - This UC EdBudget table and this CSU EdBudget table (both online) show all base increases, decreases, and deferrals under the budget agreement. State Sets Enrollment Growth Expectations for UC and CSU.
https://lao.ca.gov/Publications/Report/4922

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - Figure  1 shows how these proposals are distributed by program area. (Appendix 3, also provides a list of these proposals.) As the figure shows, most of the discretionary increases are to finance some capital outlay projects with cash instead of lease revenue bonds.
https://lao.ca.gov/Publications/Report/4662