Flexible Funding to California in the American Rescue Plan

Mar 23, 2021 - State and local governments have until December 31, 2024 to use the funds. Restrictions on Use of Funds. There are two restrictions on the use of the fiscal recovery funds. First, state and local governments are prohibited from using the funds to make supplemental pension payments.
https://lao.ca.gov/Publications/Report/4407

The 2021-22 Budget: The Governor’s Suspension Proposal

Jan 29, 2021 - Under its own revenue forecast, assuming the suspensions were operative, the administration estimates operating deficits would grow from $7. 6  b illion in 2022 ‑ 23 t o $11. 3  b illion in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4328

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - When the state created the requirement for supplemental payments, it had anticipated a steep drop in the minimum guarantee that would affect school and community college funding for several years. The supplemental payments were intended to accelerate the recovery from this drop, with payments growing from $2.3  billion in 2021 ‑22 to more than $6  billion by 2024 ‑25.
https://lao.ca.gov/Publications/Report/4309

The 2021-22 Budget: CalWORKs Fiscal Outlook

Dec 8, 2020 - We Project Further Increases in Out ‑Years. We project caseload to peak in 2022 ‑23, consistent with historic evidence suggesting caseload peaks roughly two years after peak unemployment. We further project caseload to remain above pre ‑pandemic levels through at least 2024 ‑25.
https://lao.ca.gov/Publications/Report/4306

With New Deficits Looming, California Will Weigh its Options for Allocating a Large Revenue Windfall

Dec 1, 2020 - Looking ahead, however, we also identify the emergence of a new ongoing deficit beginning in the budget year (2021‑22). This fiscal gap persists and widens through the remainder of our outlook period (2024‑25).
https://lao.ca.gov/Publications/Report/4305

The 2021-22 Budget: California's Fiscal Outlook [Publication Details]

Nov 18, 2020 - However, the state also faces an operating deficit beginning in 2021-22 and throughout the outlook period, growing to $17 billion by 2024-25. Our analysis also finds it is quite unlikely for revenues to grow fast enough for the budget to break even and erase the operating deficit.
https://lao.ca.gov/Publications/Detail/4297

The 2021-22 Budget: California's Fiscal Outlook

Nov 18, 2020 - Meanwhile, General Fund expenditures under current law and policy grow at an average 4. 4  p ercent per year. The net result is that the state faces an operating deficit, which is relatively small in 2021 ‑22, but grows to around $ 17  b illion by 2024 ‑25 (see figure).
https://lao.ca.gov/Publications/Report/4297

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

Oct 5, 2020 - Accordingly, the budget package provides $9.6 million General Fund—increasing to $209 million annually by 2024‑25—to assist counties with their increased responsibilities. These costs would be at least partially offset in future years from state savings related to reductions in the DJJ population.
https://lao.ca.gov/Publications/Report/4263

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

Oct 5, 2020 - The 2020-21 Budget: Overview of the California Spending Plan (Final Version) [Publication Details] The 2020-21 Budget: Overview of the California Spending Plan (Final Version) Format: HTML Description: Each year, our office publishes the California Spending Plan to summarize the annual state budget.
https://lao.ca.gov/Publications/Detail/4263

The 2020-21 Budget: California Spending Plan Series [Publication Details]

Oct 5, 2020 - 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 2020-21 budget package. As more of these posts become available, we will add them below.
https://lao.ca.gov/Publications/Detail/4330