Rethinking California's Reserve Policy

Apr 10, 2025 - Yet we do not view these recommendations as overly cautious —to arrive at these estimates, we have used standard tools from actuaries in pensions and insurance markets. Rather, we view these figures as an honest reflection of the volatility in the state ’s tax system.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - In our view, this year ’s budget does not have capacity for new commitments, particularly ones that are ongoing. Introduction Every year, our office publishes the Fiscal Outlook in anticipation of the upcoming budget season.
https://lao.ca.gov/Publications/Report/4939

The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal

Feb 4, 2022 - For a complete list of all proposals, see: https://lao.ca.gov/reports/2022/4492/Overview‑Appendix‑011422.pdf . SAL = state appropriations limit; EDD = Employment Development Department; UI = Unemployment Insurance; BCH Agency = Secretary for Business, Consumer Services, and Housing Agency; CalFire = California Department of Forestry and Fire Protection; IT = information
https://lao.ca.gov/Publications/Report/4515

California's Legislative Analyst's Office and the Value of Independence

Nov 15, 2024 - California's Legislative Analyst's Office and the Value of Independence Search In Fiscal Perspectives , the Legislative Analyst periodically offers the Legislature his views on fiscal matters facing California.
https://lao.ca.gov/Publications/Report/4938

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - (That is, in our view, these costs would not have occurred absent legislative action and as a result do not contribute to the budget problem the Legislature faces today.) Comparison to LAO November Outlook.
https://lao.ca.gov/Publications/Report/4662

The Definition of Qualified Capital Outlay for the State Appropriations Limit

Feb 18, 2022 - In this post, we provide our view on some commonly asked questions about the statutory definition of capital outlay for SAL-re lated purposes. Introduction The State Appropriations Limit. The SAL restricts how the state can use revenues that exceed a specified threshold.
https://lao.ca.gov/Publications/Report/4547

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential [Publication Details]

May 27, 2021 - Adopting a budget with this combination of assumptions is inadvisable in our view. One reason is that—given the state’s balanced-budget requirement—doing so requires assuming that the multiyear budget projections are wrong.
https://lao.ca.gov/Publications/Detail/4443

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

May 17, 2024 - While we would maintain that our approach more accurately reflects current law, these scoring differences do not reflect substantive differences in our views of the state ’s fiscal position. The Governor Addresses the Deficit by Adjusting Spending.
https://lao.ca.gov/Publications/Report/4902

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential Search In Fiscal Perspectives , the Legislative Analyst periodically offers the Legislature his views on fiscal matters facing California.
https://lao.ca.gov/Publications/Report/4443

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature Search In Fiscal Perspectives , the Legislative Analyst periodically offers the Legislature his views on fiscal matters facing California.
https://lao.ca.gov/Publications/Report/4762