A Review of the CalSTRS Funding Plan: Theoretical Investment Gains Have Shifted Unfunded Liabilities to Districts

Feb 2, 2016 - That is, the calculation reflects a fictional investment portfolio that has more assets than CalSTRS’ real world portfolio. This is important because when CalSTRS records investment gains in the real world, the calculation gives the state the benefit of additional, theoretical gains off the fictional portion of the investment portfolio.
https://lao.ca.gov/Publications/Report/3334

A Review of the CalSTRS Funding Plan: State’s Future Responsibility for CalSTRS Uncertain

Feb 2, 2016 - In our third post , we showed how the funding plan’s key calculation gives the state the benefit of theoretical investment gains that do not exist in the real world. For example, if CalSTRS’ real world portfolio grows by $10 billion, the calculation gives the state the benefit of a roughly $12 billion gain.
https://lao.ca.gov/Publications/Report/3336

The 2017-18 Budget: Update on Per Capita Personal Income

Mar 30, 2017 - To determine per capita personal income, the state relies upon income da ta from the federal Bureau of Economic Analysis and state population estimates from the Department of Finance. Regarding the income data, the state compares growth in per capita personal income from the fourth quarter (last three months) of two years ago with last year ’s fourth quarter.
https://lao.ca.gov/Publications/Report/3639

CalSTRS Funding: An Update

May 5, 2017 - For example, if CalSTRS ’ real world portfolio grows by $10  billion, the calculation gives the state the benefit of a roughly $11  billion gain. Of course, the opposite is true as well. When CalSTRS records an investment loss —as they did in 2015 ‑ 16 —the loss to the theoretical investment portfolio is larger than the real world loss, making the state share of
https://lao.ca.gov/Publications/Report/3662

The 2023-24 California Spending Plan: Proposition 98 and K-12 Education

Nov 28, 2023 - Funds can be used for a variety of activities, such as expanding access to career technical education, elective, world language, and A-G courses; college/career or transition counseling; mental health support services; and providing postse condary options for incarcerated youth who have a high school diploma or high school equivalency certificate.
https://lao.ca.gov/Publications/Report/4818

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - In 2023‑24 and 2024‑25, the state made one‑time reductions to the program in recognition that funding provided exceeded the amount necessary to fund all State Preschool contracts. Child Care and State Preschool Reimbursement Rates in Transition.
https://lao.ca.gov/Publications/Report/5168

A Review of the CalSTRS Funding Plan: CalSTRS Funding Plan Relies on Abstract Calculation

Feb 2, 2016 - In general, the state will pay for these smaller theoretical unfunded liabilities —as determined by the calculation —while districts will pay the difference between total real world unfunded liabilities and the state ’s share.
https://lao.ca.gov/Publications/Report/3333

The 2025-26 California Spending Plan: Proposition 98 and K-12 Education

Nov 10, 2025 - The June 2023 budget reduced funding for the Zero-Emission School Bus and Infrastructure Program but expressed the Legislature ’s intent to provide additional funding in the future, including a $500  million appropriation in 2025-26.
https://lao.ca.gov/Publications/Report/5087

The 2025-26 Budget: California State University

Feb 25, 2025 - In 2024 ‑25, CSU began addressing this situation by reallocating existing enrollment slots from campuses under their 2023 ‑24 targets to those exceeding their 2023 ‑24 targets. Effectively, this reallocation moved funding internally within the CSU system to help support more enrollment growth at growing campuses.
https://lao.ca.gov/Publications/Report/4989

The 2025-26 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 13, 2025 - State Reduced LREBG in 2023 ‑24 to Address Budget Shortfall. The state faced a revenue shortfall in 2023 ‑24, accompanied by a drop in Proposition  98 funding for schools. To help address the shortfall, the June 2023 budget implemented a $1.1  billion (14.3  percent) reduction to the LREBG.
https://lao.ca.gov/Publications/Report/4963