The 2022-23 Budget: State Appropriations Limit Implications

Mar 30, 2022 - However, revenues could differ substantially from this median (dotted line in Figure 1)—either higher or lower. Figure 1 shows the range of likely outcomes. The most likely outcomes are shown in the darker shaded area.
https://lao.ca.gov/Publications/Report/4583

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - Given the federal administration committed to providing states 60 days ’ notice regarding the end of the public health emergency, the PHE is likely to remain in place after January 2023. We estimate a one ‑quarter extension results in lower General Fund costs of about $450   million —improving the budget bottom line condition by that amount (this figure is subject to uncertainty).
https://lao.ca.gov/Publications/Report/4646

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

Jan 13, 2024 - Further, the state faces significant deficits in the coming years, likely necessitating difficult decisions in the future, such as reductions to core services and/or revenue increases. Crafting the Legislature ’s Budget.
https://lao.ca.gov/Publications/Report/4825

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

The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - Our Revenue Estimates Consistent With $2.5  Billion Upgrade to Budget Bottom Line Compared to January. Our recent revenue post suggests an improvement in revenues of around $5 billion relative to the Governor’s budget estimates.
https://lao.ca.gov/Publications/Report/5133

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

May 17, 2025 - As a result, associated spending is likely to be higher in the out ‑years.
https://lao.ca.gov/Publications/Report/5044

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - Overall, this figure shows that the state budget is likely balanced over the next couple of years, but a budget problem becomes more likely in later years.
https://lao.ca.gov/Publications/Report/4907

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - Like other budget maneuvers, this creates a misalignment between the state’s cash position and its budgetary costs. Notably, this cost shift is intended to continue on an ongoing basis—meaning costs incurred in 2026‑27 would be recognized in 2027‑28, and so on.
https://lao.ca.gov/Publications/Report/5079

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

Jan 13, 2025 - Third, the budget is currently balanced, but only because the Legislature took significant actions last year —nearly all of which involved one ‑time uses of funds, like reserve withdrawals, temporary revenue augmentations, and reductions in temporary spending.
https://lao.ca.gov/Publications/Report/4951