EdBudget Figures
Related Figures
- Contributions to CalSTRS
- Districts' Pension Contribution Rates and Amounts
- Proposition 98 Funding by Segment and Source
- Proposition 98 Key Inputs and Outcomes Under 2024-25 Budget Package
- Major Proposition 98 Spending Proposals
- 2022-23 Changes in Proposition 98 Spending
- 2024-25 Changes in Proposition 98 Spending
- 2023-24 Changes in Proposition 98 Spending
July 2024
Proposition 98 Overview
Tracking Changes in the Proposition 98 Guarantee
(In Millions)
| 2022-23 | 2023-24 | |||||||
| June 2022 (Enacted) | June 2023 (Revised) | June 2024 (Final) | Change From June 2023 | June 2023 (Enacted) | June 2024 (Revised) | Change From June 2023 | ||
| Minimum Guarantee | $110,354 | $107,359 | $97,527 | -$9,832 | $108,312 | $106,814 | -$1,498 | |
| Proposition 98 Funding | ||||||||
| General Fund | $82,312 | $78,117 | $73,946 | -$4,172 | $77,457 | $67,095 | -$10,362 | |
| Local property tax | 28,042 | 29,241 | 29,774 | 532 | 30,854 | 31,389 | 535 | |
| Totals | $110,354 | $107,359 | $103,720 | -$3,639 | $108,312 | $98,484b | -$9,827 | |
| Funding Above/Below (+/-) Guarantee | - | - | $6,193a | $6,193 | - | -$8,329c | -$8,329 | |
| a The June 2024 budget plan provides nearly $6.2 billion more than the Proposition 98 guarantee in 2022-23. This amount is attributed to 2022-23 for the purpose of calculating the guarantee in future years but accrued to the 2026-27 through 2035-36 fiscal years for state budgeting and accounting purposes. | ||||||||
| b Excludes $8.4 billion in withdrawals from the Proposition 98 Reserve. | ||||||||
| c The June 2024 budget plan suspends the minimum guarantee in 2023-24, allowing the state to provide less funding than the California Constitution otherwise would require. | ||||||||