EdBudget Figures
Related Figures
- Proposition 98 Funding by Segment and Source
- Tracking Changes in the Current- and Prior-Year Proposition 98 Guarantee
- Governor's Budget Contains $6 Billion in Proposition 98 Spending Proposals
- Proposition 98 Changes Over the Budget Period
- 2023-24 Changes in Proposition 98 Spending
- 2022-23 Changes in Proposition 98 Spending
- 2021-22 Changes in Proposition 98 Spending
- Contributions to CalSTRS
- Districts' Pension Contribution Rates and Amounts
January 2023
Proposition 98 Overview
Proposition 98 Key Inputs and Outcomes Under Governor's Budget
Dollars in Millions
| 2021-22 | 2022-23 | 2023-24 | |
| Minimum Guarantee | |||
| General Fund | $83,630 | $79,103 | $79,613a |
| Local property tax | 26,785 | 27,889 | 29,204 |
| Totals | $110,415 | $106,991 | $108,816 |
| Change From Prior Year | |||
| General Fund | $13,426 | -$4,528 | $510 |
| Percent change | 19.1% | -5.4% | 0.6% |
| Local property tax | $916 | $1,104 | $1,315 |
| Percent change | 3.5% | 4.1% | 4.7% |
| Total guarantee | $14,342 | -$3,424 | $1,825 |
| Percent change | 14.9% | -3.1% | 1.7% |
| General Fund Tax Revenueb | $219,986 | $206,469 | $205,989 |
| Growth Rates | |||
| K-12 average daily attendance | -8.9% | 3.1% | -0.8% |
| Per capita personal income (Test 2) | 5.7% | 7.6% | 2.8% |
| Per capita General Fund (Test 3)c | 19.7% | -5.1% | 0.3% |
| Proposition 98 Reserve | |||
| Deposit (+) or withdrawal (‑) | $3,710 | $1,096 | $365 |
| Cumulative balance | 7,012 | 8,108 | 8,473 |
| Operative Test | 1 | 1 | 1 |
| a Excludes $941 million supplemental payment associated with Proposition 28 (2022). | |||
| b Excludes nontax revenues and transfers, which do not affect the calculation of the guarantee. | |||
| c As set forth in the State Constitution, reflects change in per capita General Fund plus 0.5 percent. | |||
| Note: No maintenance factor is created or paid over the period. | |||