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CSLB projects stronger revenues and reserves as board reviews FY25-26 budget
Summary
Staff told the board the authorized FY25-26 budget is $83 million, revenue collections through April exceeded $92 million (a 2.5% increase), and projected reserves could reach about 8.2 months by year-end, a marked improvement from 2020.
The Contractors State License Board reviewed its fiscal picture and staff reported an authorized budget of $83 million for fiscal year 2025–26 and stronger-than-expected revenue performance through April.
Chief of Legislation presented the board’s budget summary, saying the board has collected more than $92 million through April — about a 2.5% increase compared with the same period last year — and projected revenues could reach roughly $99.9 million for the year. Staff said the beginning fund balance was $56.8 million and, if projections hold, reserves may increase to the equivalent of about 8.2 months by year-end. "If projections are realized, our revenues will increase to close to 66 million by year-end, equivalent to 8.2 months of reserves," staff said in the presentation.
Board members noted the improved reserve position compared with early-2020 levels, when the agency had a much smaller reserve. Members asked whether the governor’s revised budget provided new funding for forensic auditing and enforcement; staff said no new positions were funded, but an existing position is being reclassified to support enforcement functions.
Staff also highlighted a modest increase in new licenses and renewals through April and a healthy Construction Management Education Account fund position. The board did not vote on any budgetary changes at the meeting but said it will continue to monitor revenue performance and enforcement staffing needs.
