Rethinking California's Reserve Policy

Apr 10, 2025 - A funding shortfall is distinct from a budget deficit, which occurs when revenues are insufficient for the state to pay for all of its currently authorized services (not just core services). The nearby box describes this difference in more detail.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - Fiscal oversight is distinct from other important types of legislative oversight —such as authorizing audits that determine the degree to which the administration is implementing programs in accordance with law, or investigating potential instances of waste, fraud, or abuse.
https://lao.ca.gov/Publications/Report/4983