The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - In 2023 ‑24, the CalSTRS Board set the state ’s supplemental rate to 6.311  percent (the same rate the state has paid for the past few years), while the “unconstrained ” actuarially required rate —what the CalSTRS Board could set as the state ’s rate if it had full rate ‑setting authority to meet the goal of eliminating unfunded liabilities by 2046 —would be around 3.5  percent according to CalSTRS ’ most recent actuarial valuation.
https://lao.ca.gov/Publications/Report/4887

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - The amount projected for 2021 ‑22 is higher than what previous budgets have assumed for the budget year (see Figure  2). As the figure shows, recent budgets have tended to underestimate capital gains, meaning the estimates are below the actuals.
https://lao.ca.gov/Publications/Report/4418

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Over the coming months, if California ’s labor market and consumers begin to show signs of a broadening recovery, the state ’s fiscal position is likely to be on better footing. It remains to be seen whether this will occur, but there are some conceivable paths toward broader improvements.
https://lao.ca.gov/Publications/Report/4939

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - As we described in our November Fiscal Outlook , the recent stronger-than-expected revenue trends are almost entirely explained by the personal income tax (PIT), which has seen double digit growth this year.
https://lao.ca.gov/Publications/Report/5104

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - In addition to this report, we will release a series of issue ‑specific, online posts that give more detail on the major actions in the budget package. The Budget Problem For the third year in a row, the state faced a budget problem, or deficit.
https://lao.ca.gov/Publications/Report/5079

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - Generative Artificial Intelligence (GenAI) Budget-Related Legislation Provides Legislative Oversight of GenAI Executive Order (EO). Chapter 35 of 2024 (SB 108, Wiener) requires the Government Operations Agency (GovOps) to establish monthly meetings with legislative staff to discuss implementation of EO N-12-23 , the state’s first EO on GenAI.
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - Generative Artificial Intelligence (GenAI) Budget-Related Legislation Provides Legislative Oversight of GenAI Executive Order (EO). Chapter 35 of 2024 (SB 108, Wiener) requires the Government Operations Agency (GovOps) to establish monthly meetings with legislative staff to discuss implementation of EO N-12-23 , the state’s first EO on GenAI.
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - Recent budgets have set the SFEU between $3.5  billion and $4  billion. The Governor proposes a $4.5  billion SFEU balance for the end of 2025 ‑26.
https://lao.ca.gov/Publications/Report/4951

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - None of these levels—both on the revenue and spending side—are consistent with shortfalls seen during recessions. Because Recent Budgets Focused on One ‑Time and Temporary Spending, Ongoing Spending Level Is Still Sustainable.
https://lao.ca.gov/Publications/Report/4687