“Then it dawned on me: Arizona is on a June 30 fiscal year. The entire point of this exercise is to pull July revenues into June to artificially inflate the prior fiscal year financials. Wow – all those pious government workers artificially manipulating results just like an evil old corporation. Because there is absolutely no other reason to do this for just one month. The time value of money gained is dwarfed by the costs of changing your payment processing approach for just one month, and is certainly dwarfed if you consider the extra taxpayer effort required (which of course the government never does).
But it’s even worse! Because, in effect, this only worked one time – the first time. The first time they did this, they helped the fiscal year. But now, pulling forward July this year just offsets losing the July revenues from last year. So politicians have saddled us with a tax process that costs the government more money and the taxpayer more time and has no benefit beyond generating a slightly more positive press release about the budget for some politician several years ago (whatever year this was first implemented).”