EdBudget Figures
Related Figures
- Proposition 98 Funding by Segment and Source
- Tracking Changes in the Current- and Prior-Year Proposition 98 Guarantee
- Proposition 98 Changes Over the Budget Period
- Contributions to CalSTRS
- District Pension Contribution Rates and Amounts
- Major Proposition 98 Spending Proposals
- 2024-25 Changes in Proposition 98 Spending
- 2023-24 Changes in Proposition 98 Spending
- 2022-23 Changes in Proposition 98 Spending
January 2024
Proposition 98 Overview
Proposition 98 Key Inputs and Outcomes Under Governor's Budget
Dollars in Millions
| 2022-23 | 2023-24 | 2024-25 | |
| Minimum Guarantee | |||
| General Fund | $68,563 | $74,633 | $76,894a |
| Local property tax | 29,742 | 30,953 | 32,185 |
| Totals | $98,306 | $105,586 | $109,080 |
| Change From Prior Year | |||
| General Fund | -$15,190 | $6,070 | $2,261 |
| Percent change | -18.1% | 8.9% | 3.0% |
| Local property tax | $2,942 | $1,211 | $1,232 |
| Percent change | 11.0% | 4.1% | 4.0% |
| Total guarantee | -$12,248 | $7,281 | $3,493 |
| Percent change | -11.1% | 7.4% | 3.3% |
| General Fund Tax Revenueb | $178,952 | $193,185 | $194,941 |
| Growth Rates | |||
| K-12 average daily attendance | 0.9% | 0.1% | 0.0% |
| Per capita personal income (Test 2) | 7.6% | 4.4% | 4.8% |
| Per capita General Fund (Test 3)c | -17.9% | 8.6% | 1.4% |
| Proposition 98 Reserve | |||
| Deposit (+) or withdrawal (‑)d | $339 | -$2,751 | -$1,878 |
| Cumulative balance | 8,480 | 5,730 | 3,852 |
| Operative Test | 1 | 1 | 1 |
| a Includes adjustment for arts education funding under 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. | |||
| d Accounts for required and discretionary changes to the Proposition 98 Reserve. | |||
| Note: no maintenance factor is created or paid over the period. | |||