The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Operating Surplus of $5 Billion in 2022 ‑23. In addition to the factors described above, which are revisions to the 2021 ‑22 Budget Act , our outlook anticipates the state will have an additional $5.2 billion operating surplus in 2022 ‑23.
https://lao.ca.gov/Publications/Report/4472

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Three of those —the recession in the early 1990s, the dot ‑com bust in the early 2000s, and the Great Recession —resulted in large revenue shortfalls and ensuing multiyear deficits, even for some years after each recession ended.
https://lao.ca.gov/Publications/Report/4687

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - This reduction includes $9.6  billion in 2022 ‑23, $7 billion in 2023 ‑24, and $4.4 billion in 2024 ‑25. The magnitude of the downward revision in 2022 ‑23 is unprecedented for a fiscal year that is already over.
https://lao.ca.gov/Publications/Report/4819

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - The 2022-23 California Spending Plan: Other Provisions $55 million in 2022 ‑23, $60 million for next two years Expand Apprenticeship Programs for youth $20 million in 2022 ‑23, $25 million for next two years New Women in Construction Unit $15 million ongoing Extended Existing COVID-19 Sick Leave Until End of 2022.
https://lao.ca.gov/Publications/Report/4626

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Reappropriates Funding for System Integrator Costs Approved in 2022-23. The 2023-24 spending plan reappropriates $83.3  million General Fund that was appropriated in 2022-23 for system integrator costs.
https://lao.ca.gov/Publications/Report/4814

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - This includes additional General Fund generally consistent with the 2021 ‑22 agreement to address extreme heat ($150  million in both 2022 ‑23 and 2023 ‑24) and nature ‑based climate solutions ($594  million in 2022 ‑23 and $428  million in 2023 ‑24).
https://lao.ca.gov/Publications/Report/4616

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - We assume that three major sources of non ‑General Fund funding for Medi ‑Cal expire in 2022 ‑23, together raising year ‑over ‑year General Fund costs by around $2.5 billion. First, we estimate higher General Fund costs of $1.7  billion in 2022 ‑23 due to the assumed expiration of the PHE ’s enhanced federal share of cost at the end of March 2022.
https://lao.ca.gov/Publications/Report/4474

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Appendix 4, Figure 8 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Transportation General Fund (In Millions)
https://lao.ca.gov/Publications/Report/4788/4