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Comptroller, City Performance and Public Finance report audits, Muni funding work and bond issuance plans; committee staff review membership vacancies
Summary
Comptroller staff and city performance reported on recent and planned audits, a Muni funding working group, and upcoming bond issuances; public finance staff said issuances for 2024 bonds are expected this summer, and staff reviewed two vacant citizen seats and other membership matters for the GO bond oversight committee.
Mark Dela Rosa, director of audits in the comptroller’s office, Natasha Michal, city performance director, and Vishal Durali from the Office of Public Finance provided administrative updates to the committee.
Dela Rosa said the audits unit continues public‑integrity work and issued a March report on contracts related to Duane Jones and affiliates, making 12 recommendations for compliance with solicitation and oversight requirements. The comptroller’s office is also conducting an SF Parts Alliance investigation and a Human Rights Commission procurement audit; a 2019 affordable‑housing bond program audit was near issuance.
Natasha Michal said city performance recently published mid‑year performance measures in an interactive dashboard and is finalizing a report on a multi‑stakeholder Muni funding working group that examined strategies to address the SFMTA’s projected roughly $320 million deficit beginning in fiscal 2026–27. Michal said public commenters favored avoiding service cuts and the working group considered ballot measures and other options; she noted that even with service cuts and potential ballot measures, a roughly $100 million gap could remain.
Vishal Durali of public finance said the city closed several large issuances earlier in 2025 (including affordable housing and seawall bond issuances) and is planning two issuances this summer: an issuance of 2024 voter‑authorized bonds not‑to‑exceed $194 million (projected par ~$189 million) and an issuance of 2020 Health and Recovery bonds not‑to‑exceed $150 million. Durali said the office anticipates issuing both series in August 2025.
Committee staff also briefed members on current committee membership: two vacant seats remain (one Board of Supervisors appointee and one mayoral appointee, both expected to represent community organizations); several members are serving on holdover status pending reappointment and staff will follow up with appointing authorities. The committee discussed adjusting its calendar and liaison assignments for the coming year.
No formal actions were taken; staff will provide updates on audits, the Muni funding working group report and membership follow‑up.
