Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Controller reports roughly $104M citywide revenue shortfall, offset by $198M in departmental surpluses
Summary
At the Budget and Appropriation Committee—s June 5 hearing, the Controller—s Office reported an approximate $104 million citywide revenue shortfall for FY2023–24, offset by about $198 million in departmental operating surpluses; Laguna Honda accounted for an estimated $52 million of the shortfall and FEMA reimbursements remain unresolved.
The San Francisco Controller's Office presented its nine-month budget status update to the Budget and Appropriation Committee on June 5, reporting a net citywide revenue shortfall of about $104 million for the current fiscal year, partially offset by departmental operating surpluses totaling roughly $198 million.
Michelle Eller Smith, a presenter from the Controller's Office, said the shortfall largely reflects persistent weakness in business, sales and hotel room taxes and lower-than-budgeted FEMA reimbursements. That shortfall is counterbalanced by…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
