The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The 2026-27 Budget: California's Fiscal Outlook Executive Summary Not Safe to Bet Artificial Intelligence ( AI) Fueled Exuberance Is Sustainable. Both the California and U.S. economies currently face significant headwinds.
https://lao.ca.gov/Publications/Report/5091

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Fiscal Oversight Provides Insight Into the Benefits and Costs of State Programs. As the state ’s primary policymaking body and stewards of public resources, the Legislature regularly undertakes oversight of the state ’s programs.
https://lao.ca.gov/Publications/Report/4983

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - 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. As a result, we cannot identify the precise source of these differences —or the comparative reliability of our respective estimates —with confidence.
https://lao.ca.gov/Publications/Report/4907

California's Legislative Analyst's Office and the Value of Independence

Nov 15, 2024 - An independent assessment of the state ’s existing spending commitments helps equip the Legislature to consider the full scope of the fiscal choices before it —critical insight for the branch of government with constitutional authority over appropriations.
https://lao.ca.gov/Publications/Report/4938

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - 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. As a result, we cannot identify the precise source of these differences—or the comparative reliability of our respective estimates—with confidence.
https://lao.ca.gov/Publications/Report/4772

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - Rather, policymakers need insight on the condition of the state ’s underlying fiscal operations —annual revenues relative to expenditures —outside of any near-term surplus or deficit. Many times, such surpluses or deficits are one time and not indicative of the state ’s structural budget condition.
https://lao.ca.gov/Publications/Report/4443