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July 2017

Proposition 98 Overview

Proposition 98 Key Inputs and Outcomes Under 2017-18 Budget Package

(Dollars in Millions)

  2015-16 2016-17 2017-18
Proposition 98 Funding      
General Fund $49,425 $50,488 $52,631
Local property tax 19,678 20,902 21,892
   Totals $69,103 $71,390 $74,523
Change From Prior Year      
General Fund -$604 $1,063 $2,143
   Percent change -1.2% 2.2% 4.2%
Local property tax $2,562 $1,223 $991
   Percent change 15.0% 6.2% 4.7%
Total funding $1,958 $2,287 $3,134
   Percent change 2.9% 3.3% 4.4%
Operative Test 2 3 2
Maintenance Factor      
Amount created (+) or paid (-) -$433 $1,315 -$536
Total outstandinga 67 1,386 900
Growth Rates      
K-12 average daily attendance -0.2% -0.1% 0.0%
Per capita personal income (Test 2) 3.8 5.4 3.7
Per capita General Fund (Test 3)b 4.2 2.8 5.0
K-14 cost-of-living adjustment 1.0 0.0 1.6
       
a Outstanding maintenance factor is adjusted annually for changes in K-12 attendance and per capita personal income.
b As set forth in the State Constitution, reflects change in per capita General Fund plus 0.5 percent.