The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Reflecting these return assumptions could result in substantially lower state costs, particularly for the teachers ’ pension system. The box nearby has more details on possible future developments in the state ’s pension systems.
https://lao.ca.gov/Publications/Report/4472

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: Initial Comments on the Governor’s May Revision

May 17, 2020 - Governor Also Proposes Supplanting Pension Payments for Schools and Community Colleges. The 2019 ‑ 20 b udget included two supplemental pension payments —one to the California State Teachers ’ Retirement System (CalSTRS) and one to the California Public Employees Retirement System (CalPERS) —that would reduce district pension contribution rates over the next few decades.
https://lao.ca.gov/Publications/Report/4232

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - Shift Pension Costs. The budget takes actions in a few pension ‑related areas that result in cost shifts from the present to the future. First, the 2019 ‑ 20 b udget made a supplemental pension payment of $2. 5  b illion to CalPERS.
https://lao.ca.gov/Publications/Report/4263

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - 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

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - Remaining programs —including employee compensation, pensions, and higher education —are responsible for the remaining $4  billion in difference in that year. As we have commented in the past , our office has little insight into the components of, or assumptions underlying, the administration’s projections in HHS.
https://lao.ca.gov/Publications/Report/4772

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - The State Constitution ’s balanced budget provision prohibits the state from enacting a negative SFEU balance for the upcoming fiscal year, in this case, 2024-25. While historically the state mostly has enacted SFEU balances between $1  billion and $4  billion, the Legislature can choose to set the balance at any level above zero.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - On May 14, 2024, 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 the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/4902/1

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - On May 14, 2024, 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 the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Report/4902/2

The 2024-25 Budget: Initial Comments on the Governor’s May Revision [Publication Details]

May 17, 2024 - On May 14, 2024, 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 the overall condition and structure of the state General Fund—the budget’s main operating account.
https://lao.ca.gov/Publications/Detail/4902