The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/3

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/2

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Update (10/2/24): Figure 8 has been updated for final actions.
https://lao.ca.gov/Publications/Report/4922/1

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

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - Between 2024 ‑25 and 2027 ‑27, HHS programs grow at an average annual rate of 5.1  percent under our projections, compared to 8  percent under the administration ’s estimates. As we have commented in the past, our office has little insight into the components of, or assumptions underlying, the administration ’s projections in HHS.
https://lao.ca.gov/Publications/Report/4907

Rethinking California's Reserve Policy

Apr 10, 2025 - For example, between 2020 ‑21 and 2021 ‑22, the formulas reduced the share of excess capital gains that benefit Proposition  2 by $8  billion. Saving All Excess Capital Gains Would Allow the State to Save More Revenue Peaks.
https://lao.ca.gov/Publications/Report/5028

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

Feb 20, 2026 - At the same time, the state would continue to use $10  billion in reserves in 2025-26 under the administration ’s plan. 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).
https://lao.ca.gov/Publications/Report/5133

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

Jan 13, 2024 - About $8  billion of the Governor ’s spending ‑related solutions are delays. As a result, proposed spending is higher by $5  billion in 2025 ‑26, nearly $2  billion in 2026 ‑27, and roughly $1  billion in 2027 ‑28.
https://lao.ca.gov/Publications/Report/4825

Strong Tax Collections Belie California's Challenging Fiscal Outlook

Apr 26, 2022 - In addition to 2022-23 SAL requirements of somewhere in the range of $10  billion to $20  billion, a recession of average severity thereafter could result in annual deficits of $10  billion to $12  billion.
https://lao.ca.gov/Publications/Report/4590

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

May 17, 2025 - The increase is primarily driven by higher costs in the Medi ‑Cal program, which are projected to exceed January estimates by $10  billion over the three ‑year budget window: roughly $2  billion in 2024 ‑25 and $8  billion in 2025 ‑26.
https://lao.ca.gov/Publications/Report/5044