CalFacts 2024 [Publication Details]

Dec 2, 2024 - CalFacts presents a wide range of facts and trends about the state's economy, finances, and programs.
https://lao.ca.gov/Publications/Detail/4942

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

Jan 13, 2025 - On a net basis, these items slightly improve the budget’s bottom line. Neither our November estimates nor the administration ’s estimates included any costs associated with the devastating wildfires in Southern California, as both were developed before those wildfires began.
https://lao.ca.gov/Publications/Report/4951

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - Significant Underlying Net Cost Growth Underlying Net Cost Growth Averaging Around $900 Million Annually Throughout the Forecast Window. Underlying net cost growth reflects the fiscal impact of changes in the Medi ‑Cal caseload and per ‑enrollee costs.
https://lao.ca.gov/Publications/Report/4474

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - Safety Net Reserve. The Governor also proposes withdrawing the entire balance of the Safety Net Reserve—$900 million. Withdrawing the entire balance of the Safety Net Reserve may not be consistent with legislative intent.
https://lao.ca.gov/Publications/Report/4825

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - Safety Net Reserve . Similar to January, the Governor also proposes withdrawing the entire balance of the Safety Net Reserve —$900  million. The Safety Net Reserve was designed to help cover costs of increasing caseload in Medi-Cal and the California Work Opportunity and Responsibility to Kids program in the event of an economic downturn.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - For example, in 2020 ‑21, the state temporarily suspended net operating loss (NOL) deductions, preventing corporations with net income over $1  million from using NOLs. The state also limited businesses from claiming more than $5  million in tax credits.
https://lao.ca.gov/Publications/Report/4819

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - On  net, our assessment of the budget condition finds the state would have a small deficit of $2  billion. Given the size and unpredictability of the state budget, we view this to mean the budget is roughly balanced.
https://lao.ca.gov/Publications/Report/4939

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The net revenue generated by the tax was to (1)  help offset General Fund spending in Medi ‑Cal and (2)  augment funding for Medi ‑Cal and other health programs. Recognizing the substantial budget problem facing the state, this year ’s spending plan makes three key changes to this package.
https://lao.ca.gov/Publications/Report/4922

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

May 17, 2025 - Across the rest of the budget, the administration estimates a net improvement of $2  billion to the General Fund bottom line. The  largest component is a $1.5  billion upward revision to the entering fund balance, primarily driven by higher ‑than ‑expected reversions of unspent funds and lower required Proposition  2 (2014) debt payments.
https://lao.ca.gov/Publications/Report/5044

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

May 17, 2021 - Partially offsetting this increase, baseline costs associated with the state ’s major safety net programs are lower by $3.7  billion. Total Reserves Would Reach Nearly $20  Billion Under Governor ’s May Revision.
https://lao.ca.gov/Publications/Report/4432