Managing California’s Cash

Sep 3, 2019 - Over the next few decades, funds that pay pension costs accrue benefits through lower employer contributions costs relative to what they would be otherwise. Finally, funds that accrue these benefits are to repay the loan to the PMIA with interest.
https://lao.ca.gov/Publications/Report/4092

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - The State Constitution ’s balanced budget provision prohibits the state from enacting a negative SFEU balance for the upcoming fiscal year, in this case, 2023 ‑24. 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/4769

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656 | information [at] lao.ca.gov
https://lao.ca.gov/Publications/Report/4769/1

The 2023-24 Budget: Multiyear Budget Outlook [Publication Details]

May 23, 2023 - The 2023-24 Budget: Multiyear Budget Outlook [Publication Details] Description: This brief presents our office’s independent assessment of the condition of the state General Fund budget through 2026‑27 under our forecast of revenues and spending, assuming the Governor’s May Revision policies were adopted.
https://lao.ca.gov/Publications/Detail/4772

The 2023-24 Budget: Initial Comments on the Governor's May Revision [Publication Details]

May 15, 2023 - On May 12, 2023, Governor Newsom presented a revised state budget proposal to the Legislature. (This annual proposed revised budget is called 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/4769

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - On May 12, 2023, Governor Newsom presented a revised state budget proposal to the Legislature. (This annual proposed revised budget is called 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/4769/2

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - On May 12, 2023, Governor Newsom presented a revised state budget proposal to the Legislature. (This annual proposed revised budget is called 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/4769/3

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Under the administration ’s projections, the state faces operating deficits of $9  billion in 2024 ‑25, $9  billion in 2025 ‑26, and $4  billion in 2026 ‑27. Because  of the state ’s constitutional spending requirements, revenues would need to be higher by more than these amounts for the state to be able to afford the spending level currently proposed.
https://lao.ca.gov/Publications/Report/4687

The 2023-24 Budget: State Appropriations Limit Estimates

Feb 1, 2023 - Specifically, while the state might have more room in years when revenue growth is lower than historical averages—such as this year—over the long term, we expect the state to continue to reach the limit.
https://lao.ca.gov/Publications/Report/4667

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - Because the State Constitution requires the state to pass a balanced budget, the Governor must propose solutions when the administration estimates the state faces a budget problem. The state has many types of solutions —or tools —for addressing a budget problem, but the most important include: reserve withdrawals, spending reductions, revenue increases, and cost shifts (for example, between funds).
https://lao.ca.gov/Publications/Report/4662