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 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

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - These slots will have full ‑year costs of $305  million beginning in 2025 ‑26. The  budget also modifies and adds into statute details related to the multiyear slot expansion plan. (In 2021 ‑22, the Legislature and Governor agreed to add 206,500 child care slots by 2025 ‑26.
https://lao.ca.gov/Publications/Report/4922

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - The budget package also reflects UC ’s continued implementation of its statutory nonresident replacement plan, with an additional 902 nonresident slots replaced with resident slots in 2023 ‑24. The budget package sets no 2023 ‑24  enrollment expectation for CSU.
https://lao.ca.gov/Publications/Report/4616

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - This includes, for example, $1.6  billion in spending delays for competitive transit grant funds, a sweep of nearly $600  million in unawarded General Child Care slots, and a change in the distribution of funds in the school facilities program that delays nearly $700  million in spending until after 2024-25.
https://lao.ca.gov/Publications/Report/4902

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

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

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

Oct 27, 2021 - The budget package includes $ 735 m illion in 2021 ‑22 ($1. 6 b illion ongoing) across state and federal fund sources to provide additional slots for child care across several child care programs. The Legislature and Governor further agreed to add 80, 000 c hild care slots through 2025 ‑26, which is anticipated to cost an additional $ 1 b illion General Fund by 2026 ‑27.
https://lao.ca.gov/Publications/Report/4448

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Three of those —the recession in the early 1990s, the dot ‑com bust in the early 2000s, and the Great Recession —resulted in large revenue shortfalls and ensuing multiyear deficits, even for some years after each recession ended.
https://lao.ca.gov/Publications/Report/4687

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - Language Memorializes FI$Cal ’s Transition From Development and Implementation to Maintenance and Operations. Chapter 569 of 2022 (AB 156, Committee on Budget) makes a number of changes to FI$Cal’s statutory authority.
https://lao.ca.gov/Publications/Report/4626