Acronym
ERAF
Also known as: Excess ERAF
Educational Revenue Augmentation Fund — a property-tax shift mechanism between cities and school districts.
Counties pool a portion of property tax revenue into ERAF and direct it to schools. When ERAF receipts exceed what schools need, the surplus comes back to local governments as 'Excess ERAF.' Menlo Park budgets ~$4.7M-$5.2M of Excess ERAF as revenue.
In Menlo Park
FY2027 proposed Excess ERAF: $5.17M (a Property Tax revenue line).