2024-2025 California ACFR
2024-2025 California ACFR: At a Glance
Reimagining Financial Transparency for Every Californian
The California State Controller’s Office is committed to reimagining how government financial information is shared with the public by transforming complex financial reporting into clear, accessible insights that strengthen public trust, accountability, and civic understanding.
This Financial Snapshot is based on California’s Annual Comprehensive Financial Report (ACFR) and provides a high-level view of how public funds are collected, allocated, and spent across the state.
For the first time in eight years, lawmakers, taxpayers, investors, and the public are receiving this audited financial picture before major budget decisions are finalized.
— Controller Malia M. Cohen
California ACFR FY2025
May 12, 2026
Financial Summary (Total Government)
What the ACFR Tells Us About California’s Financial Position
Financial Summary (Primary Government)
What the ACFR Tells Us About California’s Financial Position
Revenue: Where California Funding Comes From
California’s revenue comes from a combination of tax revenue and program-related funding sources. Personal Income Tax collections remain the state’s largest tax revenue source, while Program and Other Revenue includes funding such as federal grants and charges for services across the state.
Spending: How California Uses Public Resources
California’s expenditures support services across areas such as healthcare, education, transportation, public safety, infrastructure, and government administration.
Revenue Trends Over Time
These historical revenue trends provide insight into how California’s major funding sources changed over time in response to economic conditions, financial markets, employment trends, and federal funding levels.
Spending Trends Over Time
These historical expenditure trends provide insight into how statewide spending patterns evolved over time across major public services and government activities.
California's Financial Reserves and Federal Support
California relies on both federal funding and fiscal reserves to help support public services, navigate economic uncertainty, and maintain financial stability over time. A significant portion of the Program and Other Revenue highlighted earlier in this report is made up of federal funding that supports statewide programs and services. Reserve balances help the state manage revenue volatility and unexpected fiscal pressures.
Where Every $100 Goes
This illustration shows how approximately every $100 in statewide spending is distributed across major public service areas based on fiscal year 2024–2025 expenditures.
California Annual Comprehensive Financial Report (ACFR) for Fiscal Year 2024, audited and published by the State Controller's Office.
All figures are rounded for readability. Per-$100 allocations derived from FY2025 expenditure proportions.
Government-wide financial statements prepared in accordance with GAAP for state and local governments.
June 30, 2025. Data is updated annually following audit completion. Prior years available in the ACFR archive.
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