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 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Given this, in practice, the actual amount of the state ’s resources available for new discretionary spending will be somewhat less than $31 billion. Actual Surplus Will Be Different. The state has a $31 billion surplus under our main forecast.
https://lao.ca.gov/Publications/Report/4472

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - (In this figure and throughout the report, some of the estimates cited here for the Governor ’s budget might not match estimates provided in our Overview of the Governor ’s Budget , published in January.
https://lao.ca.gov/Publications/Report/4769

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - Additionally, our office has a longstanding practice of preparing a fiscal outlook twice per year. Insofar as investors and analysts deem these projections credible, California ’s institutional commitment to doing multiyear budget estimates contributes to a higher bond rating and, consequently, more favorable financing terms in the credit markets.
https://lao.ca.gov/Publications/Report/4443

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Focusing on key elements of larger programs can provide the Legislature more detailed and practicable insight into program dynamics. Which Areas Have Been Underemphasized Recently? Another way to target legislative oversight is to identify issues within policy areas or departments that have not been focused on recently.
https://lao.ca.gov/Publications/Report/4983

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - Reducing one-time and temporary spending is a “use or lose ” tool for addressing the budget problem —once the funds are disbursed to recipients, pulling them back becomes practically impossible. Other tools, like reserve withdrawals and cost shifts, also can be used only once, but at any time.
https://lao.ca.gov/Publications/Report/4850

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

Jan 13, 2024 - Although caseloads under the Governor’s budget are higher than anticipated in June, economic conditions likely do not yet match what the Legislature envisioned when it created the reserve. Moreover, the administration proposes ongoing reductions to CalWORKs despite withdrawing these reserves.
https://lao.ca.gov/Publications/Report/4825

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Finally, the 2024 ‑25 budget continues the recent practice of providing an additional $500  million for the state Low ‑Income Housing Tax Credit Program. (Because these credits would not be claimed until the housing units are complete, the General Fund impact of these tax credits will occur in a few years.)
https://lao.ca.gov/Publications/Report/4922

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

Oct 27, 2021 - Bunche Center — Subject Matter Projects in learning loss mitigation — Faculty professional development and equal opportunity practices — UC San Francisco Memory and Aging Center Alba Lab — UC Los Angeles Latino Policy and Politics Initiative — UC ‑CSU Collaborative on Neurodiversity and Learning — UC Davis California Veterinary Emergency Team — UC San Diego cliff erosion
https://lao.ca.gov/Publications/Report/4448/1