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

The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal

Feb 4, 2022 - The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal 100 a Partial exclusions. Note: Includes proposals using General Fund surplus monies greater than $100 million. For a complete list of all proposals, see: https://lao.ca.gov/reports/2022/4492/Overview‑Appendix‑011422.pdf .
https://lao.ca.gov/Publications/Report/4515

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

Apr 19, 2023 - Due to its origins in the technology sector, the best analog for the current situation might be the 2001 recession. We have attributed some of the weaker-than-expected personal income withholding tax collections so far to a steep 84  percent decline in initial public offering (IPO) activity in 2022.
https://lao.ca.gov/Publications/Report/4762

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Visit California is responsible for marketing the state as a tourism destination and is funded through a voluntary assessment on the tourism industry. Increases Visit California Transparency. The budget package requires Visit California to prepare reports for the Legislature that identify how the public funds provided for tourism marketing were used and that measure the effectiveness of those marketing activities.
https://lao.ca.gov/Publications/Report/4452

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - New Inflation Poses Not So New Budget Risk December 15, 2022 Tweet Gabriel PetekLegislative Analyst Persistent high inflation presents federal and state policymakers with an economic problem not seen in roughly four decades.
https://lao.ca.gov/Publications/Report/4653

Understanding $100 Billion in Spending Growth: Causes and Fiscal Implications

Apr 28, 2026 - In K ‑12 education, expansions include initiatives such as a new after school program, the expansion of transitional kindergarten to all four ‑year olds, and the arts education program approved by voters through Proposition  28 (2022).
https://lao.ca.gov/Publications/Report/5176

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - While the 2020 recession was severe, the fiscal effects were smaller than anticipated and the recession was followed by strong economic growth across many sectors of the economy. Relative to the baseline revenue estimates, repealing the limits on NOLs and credits one year early reduces revenues in 2021-22 a nd 2022-23 and increases revenues somewhat in later years.
https://lao.ca.gov/Publications/Report/4626

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Similarly, the number of Californians who are unemployed is 25  percent higher than during the strong labor markets of 2019 and 2022. Consumer spending (measured by inflation ‑adjusted retail sales and taxable sales) has continued to decline throughout  2024.
https://lao.ca.gov/Publications/Report/4939

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

Oct 27, 2021 - The budget includes $ 445 m illion from the General Fund on a one ‑time basis in 2021 ‑22 (and an additional $ 425 m illion in 2022 ‑2 3) f or various activities related to the agricultural sector in California.
https://lao.ca.gov/Publications/Report/4448

The 2023-24 Budget: Considering Inflation's Effects on State Programs

Nov 16, 2022 - Although salary increases for most employees covered by agreements ratified in 2022 were below inflation, over the past several years, state employee salary adjustments generally kept pace with inflation.
https://lao.ca.gov/Publications/Report/4647