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 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 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - DOF has not yet received official claims from all affected local governments, but early estimates indicate expenditures for these purposes could be around $200  million across the 2024 ‑25 and 2025 ‑26 budget years.
https://lao.ca.gov/Publications/Report/5079

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - While the state ’s overall bond rating is a distillation of numerous individual factors —many of them exogenous —budget management is a category over which state officials have direct control. Proposition  2 (2014) enshrined in the State Constitution the Department of Finance ’s (DOF ’s) requirement to semiannually prepare a multiple-year General Fund forecast.
https://lao.ca.gov/Publications/Report/4443

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - This is why inflation and the policy responses to lower it are best thought of as macroeconomic issues to be dealt with by federal policy officials. Second, fiscal policy is most likely to be inflationary when governments run budget deficits.
https://lao.ca.gov/Publications/Report/4653

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

Jan 13, 2024 - Although the Governor has not officially d eclared a budget emergency for 2024 ‑25 (or any other year in the budget window), we agree that the conditions for a declaration exist. After a budget emergency is declared, the state can withdraw up to half of the constitutional balance of the BSA.
https://lao.ca.gov/Publications/Report/4825

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - Although the Governor has not officially d eclared a budget emergency for 2024-25 (or any other year in the budget window), we agree that the conditions for a declaration exist. After a budget emergency is declared, the state can withdraw up to half of the constitutional balance of the BSA.
https://lao.ca.gov/Publications/Report/4902

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - The Disability Insurance fund —officially named the Unemployment Compensation Disability Fund —collects employee-paid payroll taxes used to pay out disability insurance and Paid Family Leave (PFL) benefits.
https://lao.ca.gov/Publications/Report/4814