The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - The state could reform th e underlying tax structure to make it less volatile, which nearly certainly would involve reducing tax rates for higher ‑income earners. Or, the state could address volatility by building reserves —funds that can be saved during upswings and spent during downturns.
https://lao.ca.gov/Publications/Report/4687

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

Jan 13, 2023 - We define a delay as an expenditure reduction that occurs in the budget window (2021 ‑22 through 2023 ‑24), but has an associated expenditure increase in a future year of the multiyear window (2024 ‑25 through 2026 ‑27).
https://lao.ca.gov/Publications/Report/4662

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - This means that a portion of any inflation created by the tax rebate program will be exported to the rest of the U.S. Once dissipated across the nearly $26  trillion U.S. economy, California ’s $9.5  billion in tax refunds represent, at most, a trivial contribution to broader inflationary pressures.
https://lao.ca.gov/Publications/Report/4653

The 2023-24 Budget: California's Fiscal Outlook [Publication Details]

Nov 16, 2022 - Our analysis relies on specific assumptions about the future of the state economy, its revenues, and its expenditures. Consequently, our estimates are not definitive, but rather reflect our best guidance to the Legislature based on our professional assessments as of November 2022.
https://lao.ca.gov/Publications/Detail/4646

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - The administration ’s spending estimates at the time of the budget act included some expenditures that did not meet these criteria. Consequently, those items are not included in our expenditure estimates.
https://lao.ca.gov/Publications/Report/4646

The 2023-24 Budget: Considering Inflation's Effects on State Programs

Nov 16, 2022 - In each case, the Legislature might set expectations for the other entit ies in using the funds, but to a large extent, the other entity is responsible for making decisions about how to allocate state funds, usually alongside other funding sources (such as local property tax revenue or student tuition revenue).
https://lao.ca.gov/Publications/Report/4647

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - These investments include roughly $2  billion in General Fund expenditures in 2022 ‑23 approved last year as part of the multiyear Children and Youth Behavioral Health Initiative. This initiative funds a variety of programs administered by multiple state departments intended to transform behavioral health service delivery for children and youth under age 25.
https://lao.ca.gov/Publications/Report/4616

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - SAL = state appropriations limit; CAC = California Arts Council; CSSSA = California State Summer School for the Arts; CDE = California Department of Education; CDFA = California Department of Food and Agriculture; CSL = California State Library; CTC = Commission on Teacher Credentialing; DCA = Department of Consumer Affairs; DCC = Department of Cannabis Control; DFPI = Departm ent of Financial
https://lao.ca.gov/Publications/Report/4616/1

The 2022-23 California Spending Plan: The State Appropriations Limit

Sep 30, 2022 - The Constitution allows refunds of taxes to be excluded from appropriations subject to limit (see: Section 8(a) of Article XIIIB of the California Constitution). As a result, these types of tax refunds are scored as spending rather than revenue reductions.
https://lao.ca.gov/Publications/Report/4631

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - (System stabilization funding is available for encumbrance or expenditure until June 30, 2026, and technology modernization funding is availab le for encumbrance or expenditure until June  30,  2028.)
https://lao.ca.gov/Publications/Report/4626