July 2024
2022-23 Changes in Proposition 98 Spending
(In Millions)
2022-23 Spending in 2023-24 Budget Act | $107,359 |
Technical Adjustments | |
Reduce required reserve deposit | -$1,516 |
LCFF adjustments | 332 |
Other adjustments | 127 |
Subtotal | (-$1,056) |
Policy Changes | |
K-12 cost shift to 2023-24 | -$2,341 |
Community college cost shift to 2023-24 | -242 |
Subtotal | (-$2,583) |
Total Changes | -$3,639 |
2022-23 Revised Spendinga | $103,720 |
a Includes $6.2 billion in payments disbursed to schools and community colleges in 2022-23 but attributed to future fiscal years for state budget and accounting purposes. | |
LCFF = Local Control Funding Formula |