The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - However, on a cash basis, these costs would still be paid in 2025‑26 as they are incurred. Like other budget maneuvers, this creates a misalignment between the state’s cash position and its budgetary costs.
https://lao.ca.gov/Publications/Report/5079

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The added risk variable weighs on the range of revenue outcomes that we view as most plausible. The middle of the range, which becomes our main revenue forecast, is thus lower than if we did not include the stock market risk indicator.
https://lao.ca.gov/Publications/Report/5104

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

May 17, 2025 - Finally, although we have not previously recommended the Leg islature take decisive action to address the structural deficits, the state ’s persistent fiscal imbalance and the added downside risks —particularly from potential federal actions —suggest a need for a more proactive approach.
https://lao.ca.gov/Publications/Report/5044

California's Legislative Analyst's Office and the Value of Independence

Nov 15, 2024 - As such, our independent fiscal assessment underlies the Legislature ’s ability to assert an informed check on the executive branch, making any added complexity from diverging estimates a worthwhile trade-off.
https://lao.ca.gov/Publications/Report/4938

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - This 1.5  percent rate is lower than the 8.84  percent rate paid by “C ” corporations, whose income (other than dividends paid to shareholders) is not taxed at the individual level. Federal Deduction for State and Local Taxes (SALT) Limited to $10,000.
https://lao.ca.gov/Publications/Report/4452

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Special funds can be funded by fees paid by users for services, like entrance to state parks, or taxes levied on specific products, like tobacco or gasoline. Oversight of special funds and the associated activities also is an important area for legislative oversight, but it usually does not involve the same trade-offs as assessing the suite of General Fund programs.
https://lao.ca.gov/Publications/Report/4983

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Outside of government and health care, the state has added no jobs in a year and a half. Similarly, the number of Californians who are unemployed is 25  percent higher than during the strong labor markets of 2019 and 2022.
https://lao.ca.gov/Publications/Report/4939

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - This is because the actuarial loss accrues “interest ” over time that also must be paid. This interest reflects the gains that otherwise would have accrued had there been no actuarial loss in the first place.
https://lao.ca.gov/Publications/Report/4887

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - Under a credit, the amount of paid dues would reduce the tax filer ’s taxes paid. In general, tax credits provide a greater tax benefit than tax deductions. The policy change would go into effect after 2024 if certain state budget conditions are met.
https://lao.ca.gov/Publications/Report/4626

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

Jan 13, 2025 - This provides one‑time General Fund savings in that year, but also creates a “settle‑up” obligation, which will need to be paid in a future year if revenues for 2024‑25 were to remain unchanged. If revenues for 2024‑25 come in below current projections, this obligation would also decline—potentially to zero.
https://lao.ca.gov/Publications/Report/4951