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If you add up
the cents for CVESD (.29), SUHSD (.188) you will see it comes to less than
the 55% school districts are required to get by law (47.8%). The state
requires that this difference be made up by taking a part of the city’s and
county’s share of the property tax dollar and putting into the Educational
Revenue Augmentation Fund (.14). This appears to bring the schools up to
61.8%, but this is because some of the property tax has been diverted to the
redevelopment agency and the schools only received less than 20% from these
diverted taxes so the fund money coming from regular property tax dollars
needs to be higher to make sure the schools get 55% overall.
(http://www.californiacityfinance.com/ERAF_facts.pdf)
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