EdBudget Figures
Related Figures
- Comparing Proposition 98 Guarantee Under Governor's Budget and May Revision
- Proposition 98 Funding Changes by Segment and Source
- Proposition 98 Funding Per Student Under May Revision
- Proposition 98 Spending Proposals Under May Revision
- LAO May Outlook Estimates of Proposition 98 Guarantee
- Comparing LAO and May Revision Estimates of the Proposition 98 Guarantee
May 2022
Proposition 98 Overview
Proposition 98 Key Inputs and Outcomes Under May Revision
Dollars in Millions
| 2020-21 | 2021-22 | 2022-23 | |
| Minimum Guarantee | |||
| General Fund | $70,204 | $83,639 | $82,292 |
| Local property tax | 25,869 | 26,560 | 28,042 |
| Totals | $96,073 | $110,199 | $110,334 |
| Change From Prior Year | |||
| General Fund | $15,721 | $13,434 | -$1,346 |
| Percent change | 28.9% | 19.1% | -1.6% |
| Local property tax | $1,022 | $691 | $1,482 |
| Percent change | 4.1% | 2.7% | 5.6% |
| Total guarantee | $16,744 | $14,126 | $135 |
| Percent change | 21.1% | 14.7% | 0.1% |
| Inputs | |||
| General Fund taxesa | $184,709 | $220,009 | $214,835 |
| K-12 average daily attendance | 5,871,691 | 5,518,744 | 5,615,432 |
| Growth Factors | |||
| K-12 average daily attendance | -0.4% | -6.0% | 1.8% |
| Per capita personal income | 3.7% | 5.7% | 7.6% |
| Per capita General Fundb | 30.3% | 20.0% | -2.7% |
| Operative Test | 1 | 1 | 1 |
| Proposition 98 Reserve: | |||
| Deposit/withdrawal (+/-) | $3,302 | $3,991 | $2,226 |
| Balance | 3,302 | 7,293 | 9,519 |
| a Reflects General Fund revenue that affects the calculation of the guarantee. | |||
| b Reflects per capita General Fund plus 0.5 percent (one of the Test 3 factors). | |||
| Note: No maintenance factor is created, paid, or owed over the period. | |||