Rethinking California's Reserve Policy

Apr 10, 2025 - We Use Simulation ‑Based Tools Similar to Those Used to Analyze Pensions and Insurance. The state ’s reserve policy should hold up not just for a few years or even a couple of decades, but over many economic cycles.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Initial Comments on the Governor's May Revision [Publication Details]

May 17, 2025 - On May 14, 2025, 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 Governor’s proposals for and the overall condition of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Detail/5044

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - Introduction On May 14, 2025, 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 this revised budget, focusing on the Governor ’s proposals for and the overall condition of the state General Fund —the budget ’s main operating account.
https://lao.ca.gov/Publications/Report/5044

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - On May 14, 2025, 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 Governor’s proposals for and the overall condition of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/5044/1

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - On May 14, 2025, 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 Governor’s proposals for and the overall condition of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/5044/2

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - As a result, these obligations will place additional pressure on the state ’s future budgets. Figure 4 State ’s New Borrowing to Balance the Budget (In Billions)
https://lao.ca.gov/Publications/Report/5052

The 2025-26 Budget: Multiyear Budget Outlook [Publication Details]

May 24, 2025 - This post presents our office’s forecast of the condition of the state General Fund budget through 2028-29 under our revenue estimates and assuming the Governor’s May Revision policies were adopted.
https://lao.ca.gov/Publications/Detail/5052

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - This post presents our office’s forecast of the condition of the state General Fund budget through 2028-29 under our revenue estimates and assuming the Governor’s May Revision policies were adopted.
https://lao.ca.gov/Publications/Report/5052/1

Rethinking California's Reserve Policy [Publication Details]

Apr 10, 2025 - Rethinking California's Reserve Policy [Publication Details] HTML Description: Reserves allow the state to ensure stable funding for its services over time, even when revenue fluctuates unpredictably.
https://lao.ca.gov/Publications/Detail/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Similarly, state-federal partnerships, like Medi-Cal, the state ’s Medicaid program, require the state provide a minimum level of funding for large portions of the program. Where the state has implemented expansions of state-federal partnerships, however, there typically is greater fiscal flexibility.
https://lao.ca.gov/Publications/Report/4983