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San Francisco DPH reports $70.1 million year-end surplus; officials caution many items are one-time
Summary
DPH Chief Financial Officer Jenny Louie reported a year-end positive balance of roughly $70.1 million driven by $50 million of above-budget revenues and $20.1 million in expenditure savings; Louie warned that much of the gain reflects timing and one-time items and that the management reserve is intended to buffer future revenue uncertainty.
Jenny Louie, chief financial officer for the San Francisco Department of Public Health, presented the department's fourth-quarter financial report and said the department closed the year with an overall balance of about $70.1 million. Louie described components of that position as approximately $50 million in above-budget revenues and $20.1 million in expenditure savings and explained adjustments that will be netted out for the current-year budget.
Louie highlighted several revenue drivers that improved…
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