EdBudget Figures
Related Figures
- Comparing Proposition 98 Funding 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
- Deferral Paydowns Under May Revision
- LAO May Outlook Estimates of Proposition 98 Guarantee
- Comparing LAO and May Revision Estimates of the Proposition 98 Guarantee
May 2021
Proposition 98 Overview
Proposition 98 Key Inputs and Outcomes Under May Revision
Dollars in Millions
| 2019-20 | 2020-21 | 2021-22 | |
| Minimum Guarantee | |||
| General Fund | $54,483 | $67,077 | $66,374 |
| Local property tax | 24,846 | 25,745 | 27,365 |
| Totals | $79,329 | $92,822 | $93,738 |
| Change From Prior Year | |||
| General Fund | -$263 | $12,594 | -$703 |
| Percent change | -0.5% | 23.1% | -1.0% |
| Local property tax | $1,070 | $899 | $1,620 |
| Percent change | 4.5% | 3.6% | 6.3% |
| Total guarantee | $807 | $13,493 | $916 |
| Percent change | 1.0% | 17.0% | 1.0% |
| Inputs | |||
| General Fund taxesa | $143,406 | $176,481 | $174,608 |
| K-12 average daily attendance | 5,896,938 | 5,871,650 | 5,754,927 |
| Growth Factors | |||
| Per capita personal income | 3.9% | 3.7% | 5.7% |
| Per capita General Fundb | 1.1% | 23.4% | -0.1% |
| K-12 average daily attendancec | -0.4% | -0.4% | -2.0% |
| Operative Test | 1 | 1 | 1 |
| Proposition 98 Reserve: | |||
| Deposit/withdrawal (+/-) | $0 | $1,984 | $2,617 |
| Balance | 0 | 1,984 | 4,601 |
| 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). | |||
| c For calculating the guarantee, Chapter 24 of 2020 (SB 98, Committee on Budget and Fiscal Review) deems the change in attendance in 2020‑21 to be the same as the change in 2019‑20. | |||
| Note: No maintenance factor is created, paid, or owed over the period. | |||