The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - The estimate of the requirement for 2024 ‑25 is up nearly $4.7  billion (4  percent) from the June 2024 level, but the budget appropriates just over $2.7  billion in additional funding for that year.
https://lao.ca.gov/Publications/Report/5079

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

May 17, 2025 - For  example, this includes a proposal to provide $1.3  billion less in total funding for schools and community colleges than the estimated constitutional minimum for 2024 ‑25. This yields one ‑time General Fund savings in that year but creates a “settle ‑up ” obligation that will need to be paid in a future year if 2024 ‑25 revenues remain unchanged.
https://lao.ca.gov/Publications/Report/5044

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The state calculates the statutory COLA each year based on a price index published by the federal government. For 2024 ‑25, the budget provides $1  billion to cover a 1.07  percent COLA for existing school and community college programs.
https://lao.ca.gov/Publications/Report/4922

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

Jan 13, 2025 - Savings Proposals Generates $1.6 Billion School and Community College Settle‑Up Obligation in 2024‑25. The Governor’s budget proposes providing $1.6 billion less in total funding for schools and community colleges than the estimated constitutional minimum funding level for 2024‑25.
https://lao.ca.gov/Publications/Report/4951

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

May 17, 2024 - The SFEU is the state ’s operating reserve and essentially functions like an end-of-year balance. The State Constitution ’s balanced budget provision prohibits the state from enacting a negative SFEU balance for the upcoming fiscal year, in this case, 2024-25.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - This reduction includes $9.6  billion in 2022 ‑23, $7 billion in 2023 ‑24, and $4.4 billion in 2024 ‑25. The magnitude of the downward revision in 2022 ‑23 is unprecedented for a fiscal year that is already over.
https://lao.ca.gov/Publications/Report/4819

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - As such, the administration ’s revenue estimate exceeds ours by almost $30  billion across the budget window (2024 ‑25 through 2026 ‑27). This  higher revenue assumption substantially improves the budget condition relative to our forecast and is the main driving difference between our estimates of the deficit.
https://lao.ca.gov/Publications/Report/5101

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - That is, all of the savings associated with the payment would accrue to 2024 ‑25 with zero benefit to future years. Proposed Use of 2023 ‑24 Payment Appears to Violate Constitution by Supplanting State Contribution in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4887

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

Jan 13, 2024 - We define a delay as an expenditure reduction that occurs in the budget window (2022 ‑23 through 2024 ‑25), but has an associated expenditure increase in a future year of the multiyear window (2025 ‑26 through 2027 ‑28).
https://lao.ca.gov/Publications/Report/4825

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - (Our earlier analysis, The 2024‑25 Budget: Initial Comments on the Governor’s May Revision , differed in two ways: (1) it provided our assessment of the budget condition in 2024‑25 only, and (2) it was predicated on the administration’s revenue estimates.)
https://lao.ca.gov/Publications/Report/4907