State Funding Actions Related to COVID-19

Apr 20, 2020 - State Funding Actions Related to COVID-19 COVID-19 State Funding Actions Related to COVID-19 This post summarizes recent legislative and administrative action to allocate state funds to respond to the coronavirus disease 2019 (COVID-19) public health emergency.
https://lao.ca.gov/Publications/Report/4223

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - Earlier this week the Legislature provided the administration additional resources and authority to ensure the state can effectively respond. Similarly, there is a marshaling of resources occurring at the federal level that should offer support to the economy and the state ’s fiscal situation.
https://lao.ca.gov/Publications/Report/4203

The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - Conclusion In a report to the Legislature last year — The 2019‑20 Budget: Structuring the Budget: Reserves, Debt and Liabilities— we analyzed the Governor’s proposals to make several large supplemental pension payments.
https://lao.ca.gov/Publications/Report/4196

The 2020-21 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 10, 2020 - This represents a key and unique opportunity for the state. The Governor offers one strategy to prioritize these funds over the next few years. Notably, the Governor focuses on the state’s share of the unfunded liability for teachers’ pensions.
https://lao.ca.gov/Publications/Detail/4196

Taking Stock of California’s Recession Readiness

Feb 12, 2020 - Whether the state ’s multiyear fiscal outlook shows operating surpluses or deficits when a recession begins can have a significant effect on how resilient it is through the downturn. If the state enters the recession with an operating deficit, the decline in revenues caused by the recession will only worsen the state ’s budget problem.
https://lao.ca.gov/Publications/Report/4156

The 2020-21 Budget: Structuring the Budget

Feb 10, 2020 - The 2019 ‑ 20 b udget focused on paying down state debts —in particular, making supplemental pension payments —as a key tool to improving the budget ’s multiyear balance. These supplemental payments reduce the state ’s unfunded liabilities, thereby reducing future annual payments to the pension system and reducing costs over a few decades.
https://lao.ca.gov/Publications/Report/4150

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - The Governor allocates this amount among three uses: ( 1)  c ontinuing to implement the state ’s plan to prefund retiree health benefits, ( 2)  r epaying a 2017 ‑ 18 l oan from the state ’s cash resources that supported a supplemental pension payment in that year, and ( 3)  a supplemental pension payment to the state ’s teacher retirement system.
https://lao.ca.gov/Publications/Report/4135