May 2018
Proposition 98 Overview
Proposition 98 Information Under Governor's May Revision
(Dollars in Millions)
| 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | |
| Minimum Guarantee | |||||
| General Fund | $53,381 | $55,025 | $56,417 | $56,660 | $57,517 |
| Local property tax | 22,236 | 23,368 | 24,759 | 26,046 | 27,369 |
| Total | $75,618 | $78,393 | $81,176 | $82,706 | $84,886 |
| Change in General Fund From Prior Year | |||||
| Amount | $3,147 | $1,644 | $1,392 | $243 | $857 |
| Percent change | 6.3% | 3.1% | 2.5% | 0.4% | 1.5% |
| Change in Local Property Tax From Prior Year | |||||
| Amount | $829 | $1,132 | $1,391 | $1,287 | $1,323 |
| Percent change | 3.9% | 5.1% | 6.0% | 5.2% | 5.1% |
| Change in Guarantee From Prior Year | |||||
| Amount | $3,976 | $2,775 | $2,783 | $1,530 | $2,180 |
| Percent change | 5.6% | 3.7% | 3.6% | 1.9% | 2.6% |
| Inputs | |||||
| General Fund taxesa | $132,243 | $137,668 | $143,089 | $146,674 | $150,407 |
| K-12 average daily attendance | 5,961,379 | 5,944,010 | 5,941,367 | 5,926,301 | 5,908,589 |
| Growth Factors | |||||
| Per capita personal income | 3.7% | 3.7% | 5.5% | 3.2% | 3.3% |
| Per capita General Fundb | 7.8 | 3.8 | 3.6 | 2.1 | 2.2 |
| K-12 average daily attendance | 0.01 | -0.3 | -0.04 | -0.3 | -0.3 |
| Outcomes | |||||
| Proposition 98 operative "test" | 2 | 2 | 3 | 3 | 1 |
| Maintenance factor: | |||||
| Amount created/paid (+/-) | -$1,325 | – | $1,560 | $858 | – |
| Amount outstanding | – | – | 1,560 | 2,464 | $2,537 |
| PSSSA deposit | – | – | – | – | – |
| a Reflects General Fund revenue that affects the calculation of the minimum guarantee. | |||||
| b Reflects per capita General Fund plus 0.5 percent (one of the Test 3 factors). | |||||
| PSSSA = Public School System Stabilization Account. | |||||