Rethinking California's Reserve Policy

Apr 10, 2025 - Proposition  4 sets up a system in which all tax revenues —with only limited exceptions —are counted at some level of government (for example, the state, or a city, county, or school district). Funds transferred between these entities of government are counted at some part of the structure.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Where the state has implemented expansions of state-federal partnerships, however, there typically is greater fiscal flexibility. Can the Entire Program Be Evaluated, or Should Oversight Focus on Specific Components?
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