The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - Although the Governor has not officially d eclared a budget emergency for 2024-25 (or any other year in the budget window), we agree that the conditions for a declaration exist. After a budget emergency is declared, the state can withdraw up to half of the constitutional balance of the BSA.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - Although the Governor has not officially d eclared a budget emergency for 2024 ‑25 (or any other year in the budget window), we agree that the conditions for a declaration exist. After a budget emergency is declared, the state can withdraw up to half of the constitutional balance of the BSA.
https://lao.ca.gov/Publications/Report/4825

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - This is why inflation and the policy responses to lower it are best thought of as macroeconomic issues to be dealt with by federal policy officials. Second, fiscal policy is most likely to be inflationary when governments run budget deficits.
https://lao.ca.gov/Publications/Report/4653

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - While the state ’s overall bond rating is a distillation of numerous individual factors —many of them exogenous —budget management is a category over which state officials have direct control. Proposition  2 (2014) enshrined in the State Constitution the Department of Finance ’s (DOF ’s) requirement to semiannually prepare a multiple-year General Fund forecast.
https://lao.ca.gov/Publications/Report/4443

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - This slight year ‑to ‑year increase in General Fund expenditures masks a number of cost increases and costs shifts. Specifically, the budget assumes continued year ‑to ‑year growth to the three primary IHSS cost drivers: caseload (4. 1  p ercent), hours per case (1. 5  p ercent), and IHSS provider hourly wages and benefits (6. 5  p ercent).
https://lao.ca.gov/Publications/Report/4263

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - The Disability Insurance fund —officially named the Unemployment Compensation Disability Fund —collects employee-paid payroll taxes used to pay out disability insurance and Paid Family Leave (PFL) benefits.
https://lao.ca.gov/Publications/Report/4814