The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Figure 4 State ’s New Borrowing to Balance the Budget (In Billions)
https://lao.ca.gov/Publications/Report/5052

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - Revenues for prior and current years are up a total of $6  billion, primarily reflecting stronger ‑than ‑expect personal income tax collections which are running $4  billion ahead of prior projections as of April.
https://lao.ca.gov/Publications/Report/5044

Rethinking California's Reserve Policy

Apr 10, 2025 - Proposition   4 (1979) Required California Governments to Establish Reserve Accounts. Partially motivated by the budget surpluses of the late 1970s (but not reserves, as the state had none), voters passed Proposition  4 in November of 1979.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Meanwhile, revenue growth over the outlook window is just above 4  percent —this is lower than its historical average largely due to policy choices, namely the limitations on deductions and credits that end during the forecast window.
https://lao.ca.gov/Publications/Report/4983

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

Jan 13, 2025 - The proposal would then provide a like amount of funding from Proposition  4, the climate bond approved by voters in November 2024. This  would result in maintaining prior funding levels for these activities but would preclude this amount of Proposition  4 funds from supporting expanded service levels or additional projects.
https://lao.ca.gov/Publications/Report/4951

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The 2024-25 Budget: Overview of the Spending Plan Update (9/11/24): Managed care organization tax increase corrected in Appendix 1 (Figure 4) and Appendix 2 (Figure 1). Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/1

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The 2024-25 Budget: Overview of the Spending Plan Update (9/11/24): Managed care organization tax increase corrected in Appendix 1 (Figure 4) and Appendix 2 (Figure 1). Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/2

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The 2024-25 Budget: Overview of the Spending Plan Update (9/11/24): Managed care organization tax increase corrected in Appendix 1 (Figure 4) and Appendix 2 (Figure 1). Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/3

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Meanwhile, revenue growth over the outlook window is just above 4   percent —lower than its historical average largely due to policy choices that end during the forecast window. Taken together, we view it as unlikely that revenue growth will be fast enough to catch up to ongoing spending.
https://lao.ca.gov/Publications/Report/4939

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - Chapter 22 of 2024 (AB 107, Gabriel) appropriates this allocation in 2024 ‑25. eFF amounts do not include additional IIJA funding from Digital Equity Act programs, specifically $4  million in state planning and $70 million in state capacity program allocations.
https://lao.ca.gov/Publications/Report/4934