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 - We have  provided this list in Figure  2 . As shown in Figure  2, the 2025 ‑26 spending plan includes nearly $10  billion in new borrowing, increasing total outstanding budgetary borrowing from $12  billion to  $22  billion.
https://lao.ca.gov/Publications/Report/5079

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

The 2021-22 California Spending Plan: The State Appropriations Limit

Aug 30, 2021 - Second, the budget made the Golden State Stimulus payments an emergency expenditure, which is excluded from the SA L (described below). Third, the budget shifted some capital outlay spending from federal funds (specifically, American Rescue Plan fiscal relief funds) to General Fund, increasing room under the limit.
https://lao.ca.gov/Publications/Report/4449

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

May 17, 2025 - In addition, the administration includes roughly 70 other proposals, each with an estimated cost of less than $100  million. ( Appendix 1 provides a full listing of these items.) All Other Changes Improve Budget Bottom Line by $2   Billion.
https://lao.ca.gov/Publications/Report/5044

The 2022-23 Budget: State Appropriations Limit Implications

Mar 30, 2022 - Specifically, we modeled these variables (with transformations applied in some cases) using a multivariate normal distribution, with standard deviations and covariances set to match historical levels over the last 40 years.
https://lao.ca.gov/Publications/Report/4583

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - (Appendix  2 also includes a list of proposed revenue ‑related  solutions.) In this section, we describe the overall condition of the General Fund budget after accounting for the Governor ’s budget proposals and solutions.
https://lao.ca.gov/Publications/Report/4662

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Enhanced Federal Match for Home ‑ and Community ‑Based Services (HCBS). The ARP also included a temporary enhanced federal match rate for HCBS funded through the Medicaid program, which reduces the state ’s share of base program costs for these services by $3 billion.
https://lao.ca.gov/Publications/Report/4472

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

Jan 13, 2025 - The forthcoming Appendix 2 and 3 will also provide a complete list of the savings, spending, and tax expenditure proposals. Savings Proposals Generates $1.6 Billion School and Community College Settle‑Up Obligation in 2024‑25.
https://lao.ca.gov/Publications/Report/4951