Tracy Vesely, HdL's #Prop172 expert, breaks down the math, methodologies, and fluctuations. Check out her presentation from this year's CSMFO conference to explore the history, allocation examples, forecasting, and trends. #EmployeeSpotlight #LocalGovernment #RevenueManagement
Proposition 172 is the byproduct of past California budget deficits and the resulting Education Revenue Augmentation Fund (ERAF). Simply put, ERAF shifted property tax dollars away from local governments to shore up school funding. As a backfill measure, voters approved a half-cent sales tax in 1993 dedicated to maintain local public safety…and P-172 was born. In recent years, a number of different events have influenced P-172 allocations, causing big swings in funding levels and making forecasting/budgeting extremely challenging. https://lnkd.in/gZSrvwwN