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

Nov 15, 2024 - While differences between LAO and DOF estimates may sometimes add inconvenient complexity, they embody vital safeguards that ensure diverse perspectives are rigorously considered in shaping California ’s financial future.
https://lao.ca.gov/Publications/Report/4938

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - CalSTRS is the world ’s largest educator ‑only pension system, administering the $315  billion Teachers ’ Retirement Fund for more than 1  million members and beneficiaries (as of June 2023). CalSTRS ’ 12 ‑member Teachers ’ Retirement Board (CalSTRS Board) administers the fund and is constitutionally responsible for overseeing the system ’s investment policies and ensuring that benefit payments are made on time and according to law.
https://lao.ca.gov/Publications/Report/4887

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - The Legislature and union members ratified new memoranda of understanding (MOUs) between the state and 14 state bargaining units. These bargaining units include the nine units represented by Services Employees International Union, Local 1000 (Units 1 [Administrative Financial, and Staff Services], 3 [Professional Educators and Librarians], 4
https://lao.ca.gov/Publications/Report/4814

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - (This improves the budget condition.) Second, these higher revenues are more than offset by more discretionary spending, which totals $4  billion in the final package, compared to $1.6  billion in the May Revision.
https://lao.ca.gov/Publications/Report/5079

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Other forms of pay, such as bonuses to workers in the financial sector, also tend to rise when financial markets are doing well. Early evidence suggests this has been the case in 2024 as well. Without Broader Economic Improvements, Recent Gains Are on Shaky Ground.
https://lao.ca.gov/Publications/Report/4939

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Both  programs will allocate funding to transit agencies on a formula basis to use for capital improvements and/or operational support. The budget package also includes budget trailer legislation that (1)  implements several accountability measures for the funding augmentations, such as requiring agencies to submit short ‑ and long ‑term financial plans; (2)
https://lao.ca.gov/Publications/Report/4788

Rethinking California's Reserve Policy

Apr 10, 2025 - That person might experience annual fluctuations in their financial situation that causes them to save more or less in any given year. However, their long ‑term plan should be constructed irrespective of these annual fluctuations.
https://lao.ca.gov/Publications/Report/5028

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

Oct 27, 2021 - The program provides financial assistance grants in amounts between $5,000 and $25,000, depending on the applicant ’s 2019 r evenue. Other Business Assistance Programs. The budget provides GO ‑Biz $ 600 m illion ($ 95 m illion ARP fiscal relief funds and $ 505 m illion General Fund) for a variety of new and existing programs that offer financial and technical
https://lao.ca.gov/Publications/Report/4448

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 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Budget act language identifies the purposes for which this funding shall be used, including to improve, retire, or replace existing IT systems in state entities; improve IS in state entities; improve the efficiency and effe ctiveness of state entities; or transition state entities ’ legacy IT systems to cloud computing.
https://lao.ca.gov/Publications/Report/4452