EdBudget Figures
Related Figures
- Comparing Proposition 98 Funding Under Governor's Budget and May Revision
- Proposition 98 Key Inputs and Outcomes Under 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
May 2021
Proposition 98 Overview
Comparing LAO and May Revision Estimates of the Proposition 98 Guarantee
Dollars in Millions
| 2020-21 | 2021-22 | 2022-23a | 2023-24a | 2024-25a | |
| May Revision | |||||
| General Fund | $67,077 | $66,374 | $68,175 | $69,337 | $70,733 |
| Local property tax | 25,745 | 27,365 | 28,996 | 30,424 | 31,910 |
| Totals | $92,822 | $93,738 | $97,171 | $99,761 | $102,643 |
| LAO May Outlook | |||||
| General Fund | $65,950 | $69,009 | $71,100 | $74,246 | $78,329 |
| Local property tax | 25,707 | 27,056 | 28,426 | 29,945 | 31,552 |
| Totals | $91,657 | $96,064 | $99,526 | $104,191 | $109,881 |
| Change (From May Revision to LAO) | |||||
| General Fund | -$1,127 | $2,635 | $2,925 | $4,909 | $7,596 |
| Local property tax | -38 | -309 | -570 | -479 | -358 |
| Totals | -$1,165 | $2,326 | $2,355 | $4,430 | $7,238 |
| a The May Revision proposes to adjust the minimum guarantee upward ("rebench") for the expansion of transitional kindergarten to all four-year old children by 2024-25. The estimates of the guarantee in this table exclude this adjustment. If the Legislature adopts this proposal, the associated increases in the guarantee would be approximately $900 million in 2022-23, $1.8 billion in 2023-24, and $2.7 billion in 2024-25. | |||||