The 2022-23 Budget: California’s Fiscal Outlook [Publication Details]

Nov 17, 2021 - Our annual Fiscal Outlook publication gives our office’s independent assessment of the California state budget condition for the upcoming fiscal year and over the longer term. In this report, we anticipate the state will have a $31 billion surplus to allocate in the upcoming fiscal year and operating surpluses ranging from $3 billion to $8 billion over the multiyear period.
https://lao.ca.gov/Publications/Detail/4472

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - In considering the state ’s 2022 ‑23 SAL estimates, we anticipate the state ’s SAL position in 2023 ‑24 to be a major consideration in the budget process and enactment. Our estimates for the state ’s SAL position across the budget window are also shown in the insert in Figure 6.
https://lao.ca.gov/Publications/Report/4472

The 2020-21 Budget: California's Spring Fiscal Outlook [Publication Details]

May 8, 2020 - Under both of our economic scenarios, budget deficits persist until at least 2023-24 with multiyear deficits summing to $64 billion in the U-shaped recession and $126 billion in the L-shaped recession.
https://lao.ca.gov/Publications/Detail/4228

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Across the budget window (2023-24 to 2025-26), we estimate the budget condition improves by nearly $2  billion relative to the administration ’s projections. This modest improvement reflects our somewhat higher revenue estimates, partially offset by slightly higher projected spending.
https://lao.ca.gov/Publications/Report/5052

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

May 17, 2025 - We define a delay as a proposal that reduces expenditures within the budget window (2023 ‑24 through 2025 ‑26) but shifts those costs to a future year in the multiyear period (2026 ‑27 through 2028 ‑29).
https://lao.ca.gov/Publications/Report/5044

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - The 2024-25 California Spending Plan: Other Provisions $4,850 $7,787 a Chapter 189 of 2023 (SB 104, Skinner) appropriated $73 million FF from the IIJA ’s Enabling Middle Mile Infrastructure program in 2023 ‑24. b Chapter 48 of 2022 (SB 189, Committee on Budget and Fiscal Review) included a legislative goal to appropriate $250 million GF in 2024 ‑25 for the middle
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - The 2024-25 California Spending Plan: Other Provisions $4,850 $7,787 a Chapter 189 of 2023 (SB 104, Skinner) appropriated $73 million FF from the IIJA ’s Enabling Middle Mile Infrastructure program in 2023 ‑24. b Chapter 48 of 2022 (SB 189, Committee on Budget and Fiscal Review) included a legislative goal to appropriate $250 million GF in 2024 ‑25 for the middle
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

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

Jan 13, 2025 - Since 2023 ‑24, the Legislature has addressed a cumulative total of $82  billion in budget problems, but even including the withdrawal for 2025 ‑26, has only used about half of the Budget Stabilization Account (BSA).
https://lao.ca.gov/Publications/Report/4951

Rethinking California's Reserve Policy

Apr 10, 2025 - Further, since 2023‑24, the Legislature has addressed $82 billion in budget problems (with more in deficits likely to emerge in the coming years), but at its largest, the BSA balance reached only $23 billion.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - On a technical basis, the budget bottom line condition is the accumulated change in General Fund revenues and spending across the three fiscal years in the budget window —this year, 2023 ‑24 through 2025 ‑ 26 —and reflected in the ending balance in the Special Fund for Economic Uncertainties (SFEU) in 2025 ‑26 in Figure  2 .
https://lao.ca.gov/Publications/Report/4939