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

Jan 13, 2020 - Most notably, the Governor provides a combined $ 900  m illion for six programs aimed at improving school employee training, recruitment, and retention. The budget also provides $ 600  m illion for two new grant programs: (1) $ 300  m illion for grants to help low ‑performing schools and districts improve their performance and (2) $ 300  m illion for
https://lao.ca.gov/Publications/Report/4135

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - All state spending into the economy —whether it goes toward health care, corrections, schools, or tax rebates —must be funded with revenue extracted from the economy. Reserves Offer Insurance Against Downside Risk By far, the biggest fiscal threat posed by inflation is its propensity to raise the risk of a recession.
https://lao.ca.gov/Publications/Report/4653

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products

May 12, 2019 - Public schools Relatively high ‑poverty middle schools and high schools must provide free menstrual products. Human Services Eligibility criteria and grant amounts not adjusted for menstrual expenses.
https://lao.ca.gov/Publications/Report/4040

The Definition of Qualified Capital Outlay for the State Appropriations Limit

Feb 18, 2022 - As such, there are many types of properties that clearly meet this definition, including: buildings (such as houses, office buildings, and school buildings), land (including undeveloped land, such as parks), highways, roads, and bridges.
https://lao.ca.gov/Publications/Report/4547

The 2019-20 May Revision: Initial Comments on the Governor’s May Revision

May 12, 2019 - Compared to January, the administration ’s estimates of revenues and transfers (excluding reserve deposits) have increased by $3.2  billion across the three fiscal years of 2017 ‑18 to 2019 ‑20. This upward revision is primarily the net effect of a few factors.
https://lao.ca.gov/Publications/Report/4039

An Extraordinary Moment in California's Fiscal History

Apr 11, 2019 - In our 2018 November fiscal outlook, we estimated that in order to cover the budget problem associated with a moderate recession without cutting programs or raising taxes, the state would require budget reserves of $25 billion.
https://lao.ca.gov/Publications/Report/4003

The 2023-24 Budget: California Spending Plan Series [Publication Details]

Oct 2, 2023 - Each year, our office publishes California Spending Plan, a series of publications that summarize the annual state budget. The final version of Overview of the California Spending Plan is presented here along with short online posts that focus on major areas and features of the 2023-24 budget package. As these posts become available, we will add them below.
https://lao.ca.gov/Publications/Detail/4835

The 2019-20 May Revision: LAO Economic Outlook

May 12, 2019 - The PE ratio (Shiller PE ratio) currently is 30, whereas the average since 1990 is 25. Overpriced or not, stock markets perennially create uncertainty for the economy and the state ’s budget, as stock prices are subject to large, unpredictable swings at any time.
https://lao.ca.gov/Publications/Report/4036

The 2021-22 Budget: Multiyear Budget Outlook [Publication Details]

May 23, 2021 - This report presents our office’s independent assessment of the condition of the state General Fund budget through 2024-25 assuming the economy continues to grow. While the state faces a historic surplus, a spending level beyond what is proposed by the Governor would require the Legislature to identify proposals to reject.
https://lao.ca.gov/Publications/Detail/4437

A Framework for Allocating Federal Recovery Funds

May 4, 2021 - Importantly, we note that there is no requirement for the state to allocate all of its recovery funds as part of this year ’s budget process. Under the ARP, the state has until the end of 2024 to expend the funding, which gives the Legislature some time to define its vision for how to use a portion of the funds to address long-standing challenges.
https://lao.ca.gov/Publications/Report/4422