Finances
Are revenue, spending, and reserves keeping pace?
General Fund actuals stay distinct from estimates. A reserve balance is not a sufficiency grade.
Every chart on this desk · click to zoom
F01FinancesNot fucked
State General Fund: revenues and transfers vs expenditures
226.8US$ billions · 2027↗ improving
F02FinancesFucked
General Fund revenue per resident, nominal vs inflation-adjusted
6,246US$ per resident real · 2026↘ worsening
F03FinancesNot fucked
Personal income tax as a share of all California state taxes (Census)
46.8% · 2025↘ worsening
F04FinancesKind of fucked
Rainy-day fund (Budget Stabilization Account): balance and share of GF revenues
6.65% · 2027↘ worsening
F05FinancesNot fucked
California general obligation bond ratings (S&P, Moody's, Fitch)
4notch (1=AAA) · Nov 2026→ flat
F06FinancesNot fucked
Nasdaq Composite (monthly average): stock-market driver of capital-gains revenue
25,147index · Nov 2026↗ improving
State readings · level beside direction
3.33notch (AAA = 1)
Average general obligation rating notch (AAA = 1)
–Within 2017–19→No material change
1.06% of spending
General Fund revenues and transfers minus expenditures, % of expenditures (actuals)
–Within 2017–19↗Improving
7.89% of GF revenue
Rainy-day fund (BSA) balance, % of General Fund revenues
–Within 2017–19↘Worsening
Featured · F01
State General Fund: revenues and transfers vs expenditures (DOF)
Actual budget outcomes, administration estimates, and enacted estimates are different statuses. The chart does not treat an estimate as money already spent.
Dashed = preliminary or estimateFull page, sources & data →