The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - This year, for example, our outlook reflects our best estimates of the effects of H.R. 1: One Big Beautiful Bill Act on the state budget but does not make assumptions about future federal policy changes.
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 - However, on a cash basis, these costs would still be paid in 2025‑26 as they are incurred. Like other budget maneuvers, this creates a misalignment between the state’s cash position and its budgetary costs.
https://lao.ca.gov/Publications/Report/5079

Rethinking California's Reserve Policy

Apr 10, 2025 - To mitigate this problem, the state could use the funds on a cash basis to advance some of the Legislature ’s policy goals. For example, the cash in this account could be used to make loans to support infrastructure and housing.
https://lao.ca.gov/Publications/Report/5028

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

May 15, 2023 - Moreover, the administration will have an information advantage —it knows better what money has or has not been dispersed —making it more challenging for the Legislature to exert its preferences in response.
https://lao.ca.gov/Publications/Report/4769

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - Reflecting very strong cash collections in recent months, the May Revision adjusts 2020 ‑21 revenues (and transfers) up by $26.8  billion to $182  billion. This represents a 27  percent increase over 2019 ‑20, the largest single year increase in over four decades.
https://lao.ca.gov/Publications/Report/4432

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - In addition, the 2017 ‑18 budget package authorized a plan to borrow $6  billion from the state ’s cash resources to make a one ‑time supplemental payment to CalPERS. The state ’s repayments on this borrowing plan, although not technically pension payments, are also considered eligible for Proposition  2 requirements.
https://lao.ca.gov/Publications/Report/4887

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

Oct 16, 2023 - In response to the state ’s projected budget deficit, the 2023 ‑24 budget agreement rescinds the vast majority of the 2022 ‑23 General Fund cash, as well as some of the 2021 ‑22 cash. The  segments instead are to issue revenue bonds.
https://lao.ca.gov/Publications/Report/4788

The 2023-24 Budget: Considering Inflation's Effects on State Programs

Nov 16, 2022 - In ‑Kind, Cash, and Cash ‑Like Benefits. The  state provides some in ‑kind, cash, and cash ‑like benefits directly to individuals. These benefits include, for example, cash assistance programs like CalWORKs and Supplemental Security Income/State  Supplementary Payment (SSI/SSP), as well as Cal Grants provided to students for non ‑tuition expenses.
https://lao.ca.gov/Publications/Report/4647

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

Jan 13, 2023 - The Governor ’s budget proposes making nearly one ‑third of all spending ‑related solutions subject to trigger restoration language. Under this proposed language, program spending that otherwise would have occurred in 2023 ‑24 would not be allocated as part of the June budget act.
https://lao.ca.gov/Publications/Report/4662