California’s Fiscal Outlook

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Presentation transcript:

California’s Fiscal Outlook Legislative Analyst’s Office www.lao.ca.gov

Basics of the State’s Budget Revenues: Big Three – personal income tax, sales tax, and corporate tax Expenditures: About half of General Fund spending is for education Majority of other half is for health and human services and corrections

Our Forecast Estimate revenues and expenditures for 6 years and subtract Estimates based on current law and current policy Economic Assumptions: Current economic recovery continues Housing market will return to historical norms

Contact Brian Uhler, Local Government Finance Analyst, LAO Brian.Uhler@lao.ca.gov

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