California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - However, our Fiscal Outlook revenue forecast, shown in Figure  2 , reflects a smaller, temporary upgrade which reverses beginning in 2026 ‑ 27 —resulting in 2026 ‑27 revenues being in line with budget act estimates.
https://lao.ca.gov/Publications/Report/5091

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

Oct 16, 2023 - Appendix 4, Figure 5 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Other General Fund (In millions) Broadband infrastructure —last ‑mile projects $253 Broadband infrastructure —Broadband Loan Loss Reserve Fund 175 Establish new office of public outreach 65 Note: Includes augmentations above $50 million CPUC = California Public Utilities Commission and OPR = Office of Planning and Research.
https://lao.ca.gov/Publications/Report/4788/4

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - At the same time, we have estimated that revenues are much more likely to be sufficient to cover the state ’s baseline commitments —which are expenditures stripped of the one-time and temporary allocations.
https://lao.ca.gov/Publications/Report/4762

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Figure  1 displays the distribution of most likely revenue outcomes over the multiyear (in grey). As seen in the figure, the revenues required to balance the budget (in red) are considerably above the most likely scenario in all but 2026 ‑27.
https://lao.ca.gov/Publications/Report/4687

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The budget package also includes $94 million in one‑time General Fund for flood prevention activities, $65 million in one‑time GGRF for projects at the Salton Sea, and roughly $45 million in ongoing General Fund to make recent temporary expansions of CalFire hand crews permanent.
https://lao.ca.gov/Publications/Report/4922

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

Oct 27, 2021 - The 2021‑22 budget provides over $1 billion in funding for several program expansions and enhancements that are in line with the state’s Master Plan for Aging. Some examples of these include (1) expand full‑scope Medi‑Cal, including IHSS, to undocumented older adults; (2) providing a grant increase for SSI/SSP recipients; (3) expanding eligibility and services for the Adult Protective Services program; and (4) establishing a permanent IHSS back‑up provide system.
https://lao.ca.gov/Publications/Report/4448

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Qualifying types of projects include: State Water Project projects, regional or local water agency infrastructure, certain transportation-related projects like wildlife crossings, and wind a nd solar photovoltaic projects.
https://lao.ca.gov/Publications/Report/4814

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - While employers, like the state, generally are required to pay the amount specified by pension boards to address unfunded liabilities, in some cases employers can choose to pay more than what is required in any given year.
https://lao.ca.gov/Publications/Report/4887

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

Jan 12, 2026 - First, the budget includes about ten budget solutions —proposals that create budget capacity, improving the budget ’s bottom line —and they total around $9  billion. Second, the Governor ’s budget includes about 60 discretionary spending proposals —proposals that use budget capacity, eroding the budget ’s bottom line —and these total about $600  million.
https://lao.ca.gov/Publications/Report/5101