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SFHSS reports $14.4 million decrease in benefit trust balance in unaudited FY2025 results
Summary
SFHSS Principal Administrative Analyst Yuri Golagorski presented unaudited fiscal year results ending June 30, 2025, showing a $14.4 million decrease in the benefit trust fund driven by use of a $10 million stabilization reserve and a Sutter settlement; pharmacy rebates totaled about $33.9 million.
Yuri Golagorski, principal administrative analyst for San Francisco Health Service System finance, presented unaudited financial results for the fiscal year ending June 30, 2025, at the Sept. 11 Health Service Board meeting.
Golagorski said the SFHSS benefit trust fund balance decreased by $14.4 million for the year. He attributed the reduction in part to the use of a $10 million stabilization reserve and to a settlement with Sutter, Golagorski said. Pharmacy rebates for the year were about $33.9 million; interest income and unrealized gains were about $7.6 million.
Golagorski summarized activity in the Healthcare Sustainability Fund, reporting a decrease (described in the presentation as "2,002 thousand hundreds") with an ending balance of approximately $6.4 million; he described the numbers as unaudited and said the FY2025 audit is in progress.
Board members asked for clarification on the Healthcare Sustainability Fund decrease; Golagorski explained the fund collects a per‑member per‑month contribution and that expenditures exceeded revenues for the fiscal year, resulting in use of fund balance.
Why it matters: year‑end fund balances, rebates and use of reserves affect SFHSS’s fiscal position and the board’s review of benefit adequacy and contribution strategies.
Golagorski said general fund net activities were ahead of budget largely because of vacancies. He reiterated that the audit for FY2025 is ongoing and these numbers are unaudited.
