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SFHSS financial update: trust balance projected near $123.4M; city budget guidance offers two‑year surplus then structural shortfalls
Summary
CFO Larry Lew reported a projected FY‑end trust balance of about $123.4 million and noted a projected $2.5 million decrease for the trust; the mayor's budget instructions show a two‑year city surplus of about $108 million but caution about later structural shortfalls. The board approved actuarial IBNR and contingency reserve amounts as presented by Aon.
San Francisco Health Service System Chief Financial Officer Larry Lew presented financial results through Nov. 30, 2021 and outlined implications of the mayor's budget instructions for SFHSS.
Lew said the trust is projecting a fiscal‑year‑end decrease of about $2.5 million, leaving an estimated net trust balance near $123.4 million. He reported projected decreases of about $377,000 for flex and self‑funded plans, and noted…
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