Rethinking California's Reserve Policy

Apr 10, 2025 - This makes the state ’s reserve policy more like an individual saving for retirement. A person saving for retirement does not know how long they will live or exactly what their expenses will be in retirement, but they nonetheless must plan for this eventuality by making the best possible choices in the meantime.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - 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. This section offers some questions to determine how to focus those efforts.
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