The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - In addition, recent budgets have relied on nearly $30  billion in borrowing to address deficits, and the Governor ’s budget proposes almost $6  billion in additional borrowing (see Figure  1). A period of strong revenue growth is not an appropriate time to draw down significant reserves or continue to rely on borrowing.
https://lao.ca.gov/Publications/Report/5133

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - Moreover, we estimate costs in other programs to be about $6  billion higher than anticipated. Starting in 2027 ‑28, we estimate structural deficits to grow to about $35  billion annually due to spending growth continuing to outstrip revenue growth.
https://lao.ca.gov/Publications/Report/5091

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - Across all programs in this agency (including, for example, Medi ‑Cal, In ‑Home Supportive Services, developmental services, and child care), our estimates are $6  billion higher than the administration ’s projection by 2026 ‑27.
https://lao.ca.gov/Publications/Report/4772

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - (The full implementation costs of these ongoing proposals grow to $6. 6 b illion by 2025 ‑26.) Additionally, the budget includes hundreds of millions of dollars for continued temporary assistance related to the COVID ‑ 19 p andemic response and support in child welfare, In ‑Home Supportive Services (IHSS), and CalWORKs.
https://lao.ca.gov/Publications/Report/4448

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

Overview of American Rescue Plan: Implications for California [Publication Details]

Mar 18, 2021 - Presented to: Assembly Subcommittee No. 6 on Budget Process, Oversight and Program Evaluation Hon. Philip Y. Ting, Chair
https://lao.ca.gov/Publications/Detail/4405

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Specifically, our November forecasted spending growth is about 6  percent over the multiyear period (2026-27 thought 2028-29) —a growth rate that is high by historical outlook standards and slightly above what we consider to be long-term revenue growth.
https://lao.ca.gov/Publications/Report/4983

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 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Our estimates for the state ’s SAL position across the budget window are also shown in the insert in Figure 6. Is There Capacity for New, Ongoing Commitments? Operating Surpluses of $3 Billion to $8  Billion.
https://lao.ca.gov/Publications/Report/4472

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - Notably, however, the administration ’s multiyear estimates include a negative SFEU balance of $6  billion in 2022 ‑23. Despite Sizeable Surplus, Governor Maintains Borrowing and Reserve Withdrawals.
https://lao.ca.gov/Publications/Report/4432