Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Controller projects $209.3M general-fund balance but transfer taxes and FEMA timing cut into outlook
Summary
The Controller’s nine‑month forecast projects a $209.3 million general‑fund balance for FY2022–23, improving the prior forecast but leaving a two‑year shortfall. Officials warned a collapse in real‑property transfer tax receipts and delayed FEMA reimbursements reduce near‑term flexibility.
The San Francisco Controller’s Office reported on May 24 that the city projects an ending general‑fund balance of $209.3 million for fiscal year 2022–23, a $36.3 million improvement from the March forecast but still leaving a projected two‑year shortfall of about $744 million. Carol Lou, citywide revenue manager, presented the nine‑month forecast to the Board of Supervisors’ Budget & Appropriations Committee.
Lou said two main factors are driving the forecast changes. First, the Department of Public Health is facing a revenue shortfall at Laguna Honda Hospital due to a declining patient census; that gap will be covered this year by a $6.9 million public‑health management reserve. Second, savings in the Human Services Agency are being partly offset by $26…
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
