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 - By shifting payments to the next fiscal year, these deferrals create one‑time savings in 2025‑26. Similar to other forms of borrowing, undoing these deferrals in the future (and reverting payments to their typical schedule) will require the state to provide one‑time back payments to the universities.
https://lao.ca.gov/Publications/Report/5079

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - While previous CalPERS payments under Proposition  2 resulted in savings over time, the Governor ’s proposed application of the 2023 ‑24 payment would mean the state does not yield any future savings (after 2024 ‑25) from this payment.
https://lao.ca.gov/Publications/Report/4887

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

May 17, 2025 - The  largest component is a $1.5  billion upward revision to the entering fund balance, primarily driven by higher ‑than ‑expected reversions of unspent funds and lower required Proposition  2 (2014) debt payments.
https://lao.ca.gov/Publications/Report/5044

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Implements Small Payment Deferral. The budget reduces spending in 2024 ‑25 by deferring $487  million in payments to 2025 ‑26. Of this deferral, half applies to schools and half applies to community colleges.
https://lao.ca.gov/Publications/Report/4922

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Other Medi-Cal solutions aim to constrain costs —for instance, increasing pharmacy rebates —and end some forms of additional rate and service payments. One of the other large areas of solutions is in In-Home Supportive Services (IHSS).
https://lao.ca.gov/Publications/Report/5052

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

Oct 27, 2021 - The budget includes $8. 1 b illion General Fund in Golden State Stimulus  II payments, the second round of state direct payments to lower ‑income taxpayers. Under the second round, the state will send payments to an estimated 14. 2 m illion taxpayers.
https://lao.ca.gov/Publications/Report/4448

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Debt payments also are not adjusted when new capital gains estimates are available later, which means that the revised estimate affects reserves but not debt payments. This means that initial overestimates of capital gains result in more debt payments, while underestimates of capital gains result in more reserve deposits.
https://lao.ca.gov/Publications/Report/4418

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

Aug 30, 2021 - The Governor proposed allocating half of the excess revenues ($8.1  billion) to taxpayers in the form of a second round of Golden State Stimulus payments. For the school payment portion, the Governor proposed allocating the payments in a future year, as allowed under the Constitution.
https://lao.ca.gov/Publications/Report/4449