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HSS CFO: trust fund projected up modestly; mayor's budget instructions call for 2% ongoing reductions and contingency savings
Summary
CFO Pamela Levin reported a projected trust fund balance increase to $79.6 million and an unqualified draft audit; the mayor's budget instructions project $107.4M and $183.4M deficits in the next two biennia and require 2% ongoing reductions plus contingency savings, driven largely by pensions and labor‑negotiation uncertainty.
Pamela Levin, chief financial officer for the San Francisco Health Service System, briefed the board on the trust fund's preliminary year-end projection and the city's mayoral budget instructions for FY 2019–20 and FY 2020–21.
Levin said the trust fund balance as of June 30, 2018 was $77.4 million and, based on activity through November, the projected balance is $79.6 million—an increase she attributed to favorable claims experience in some plans and salary…
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