The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - The Governor ’s budget maintains an already planned withdrawal from the state ’s rainy day fund, which we think is a reasonable choice. Since 2023 ‑24, the Legislature has addressed a cumulative total of $82  billion in budget problems, but even including the withdrawal for 2025 ‑26, has only used about half of the Budget Stabilization Account (BSA).
https://lao.ca.gov/Publications/Report/4951

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

Jan 13, 2023 - 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

The 2022-23 Budget: Overview of the Governor's Budget

Jan 13, 2022 - If the Proposition  98 guarantee were to drop, the Legislature would be able to withdraw this amount to maintain funding for programs. (In some cases, the constitutional formulas would require withdrawals.)
https://lao.ca.gov/Publications/Report/4492

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

Jan 10, 2021 - This means the state took a number of actions to balance the budget —including making withdrawals from reserves and shifting costs —that were larger than necessary. In light of that fact, as well as continued economic uncertainty and anticipated future deficits, we think it is important that the state restore most or all of that resilience.
https://lao.ca.gov/Publications/Report/4309