Rethinking California's Reserve Policy

Apr 10, 2025 - That is: the state will face revenue downturns in the future, but we can ’t predict when those will occur or how big they will be. This makes the state ’s reserve policy more like an individual saving for retirement.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - How Do You Focus Your Efforts? The Legislature cannot reasonably undertake in-depth oversight of all state programs in one budget season. As such, the Legislature must determine how to focus its efforts so as to provide information that would be most helpful in making future budget decisions.
https://lao.ca.gov/Publications/Report/4983

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

Jan 13, 2025 - Moreover, specific budgetary conditions occurring this year —including legislative action taken last year to withdraw more in reserves this year —make interpretation of the budget position more complex.
https://lao.ca.gov/Publications/Report/4951