Home Prices Update: August 2020 [EconTax Blog]

Sep 23, 2020 - The average interest rate on 30-year fixed rate mortgages fell from 3.62 percent in August 2019 to 2.94 percent in August 2020. This made monthly mortgage payments more affordable (all else equal) and prob ably contributed to the price increases.
https://lao.ca.gov/LAOEconTax/Article/Detail/551

October 2019 State Tax Collections [EconTax Blog]

Dec 9, 2019 - Year-to-date, revenues are $70 million below projections. While PIT collections have been somewhat lower than expected this year, corporation tax collections remain almost $700 million ahead of June estimates due to strong collections the first three months of the year.
https://lao.ca.gov/LAOEconTax/Article/Detail/419

The 2019-20 Budget: Proposition 56 Revenues: Reductions in Fixed Allocations

Feb 14, 2019 - Hereafter, we refer to this problematic approach as the “year-over-year method. ” Year-Over-Year Method: an Example. The left-hand side of Figure  3 below illustrates the allocation for graduate medical education under the year-over-year method.
https://lao.ca.gov/Publications/Report/3939

Enrollment by Higher Education Segment [EdBudget]

Jan 13, 2021 - At CCC, 1 FTE student is 525 contact hours per year, which on average generates about 24 credits. For undergraduate education at CSU and UC, 1 FTE student is 30 credit units. For graduate education at CSU, UC, and Hastings, 1 FTE student is 24 credit units.
https://lao.ca.gov/Education/EdBudget/Details/459

Comparing Early Education Funding Under Governor's Budget and May Revision [EdBudget]

May 11, 2020 - Comparing Early Education Funding Under Governor's Budget and May Revision [EdBudget] a Does not include $9.2 million provided to community colleges for certain child care services. b General Child Care funding for State Preschool wraparound care shown in State Preschool--full day. c Program total does not include $205 million in the 2018-19 budget that will be spent over a
https://lao.ca.gov/Education/EdBudget/Details/251

Federal COVID-19 Funds by Higher Education Segment [EdBudget]

Jan 13, 2021 - Institutions have one year to spend the funds. Excludes CARES Act funding that higher education institutions might have received for other purposes, such as research and development. bExcludes funds ($28 million nationally) that will be awarded through a competitive process.
https://lao.ca.gov/Education/EdBudget/Details/457

Home Sales Update: December 2020 [EconTax Blog]

Jan 29, 2021 - January sales are running below the levels of previous months, but this is a standard annual pattern and the pace remains well ahead of a year ago.  
https://lao.ca.gov/LAOEconTax/Article/Detail/616

June 2019 State Tax Collections [EconTax Blog]

Jul 10, 2019 - We discuss June 2019 and fiscal year 2018-19 state tax collections.
https://lao.ca.gov/LAOEconTax/Article/Detail/384

The Quiet Transformation in California’s Cash Management

Aug 29, 2019 - California’s constitutional balanced budget requirement notwithstanding, some form of short-term borrowing is necessary because cash receipts and disbursements within the year do not line up. General Fund disbursements are spaced relatively evenly throughout the fiscal year while a majority of tax collections are received later in the year.
https://lao.ca.gov/Publications/Report/4091

FI$Cal IT Project Update—Special Project Report 8

Jan 8, 2020 - LAO Findings Several Departments Missed Deadlines for Year ‑End Financial Statements. As part of its 2019 ‑ 20 b udget request to the Legislature, FI$Cal set a goal of providing enough support —that is, additional staff, training, and other resources —to every department using FI$Cal to close their year ‑end financial statements in the system no later than the October following the end of a fiscal year in June.
https://lao.ca.gov/Publications/Report/4132