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Budget office says March update raises near-term shortfall to about $780 million; FEMA timing is key factor
Summary
Budget staff told the Budget and Appropriation Committee the March update to San Francisco County's five-year projection shows a near-term two-year shortfall of roughly $780 million, driven mainly by delayed FEMA reimbursements and persistent cost pressures; the committee continued the hearing to the call of the chair.
Supervisor Connie Chan, chair of the Budget and Appropriation Committee, convened a hearing on April 12 where budget staff presented a March update to San Francisco County's five-year financial projection and described an updated multiyear shortfall of about $780 million.
Budget director Anna Dooning of the mayor's office said the update keeps the same base-case assumptions used in January but shifts timing on several revenues. "The assumptions have not drastically changed," Dooning said, and added that "the first year got $90,000,000 worse. The second year got $38,000,000 better," producing the roughly $780 million two-year shortfall that staff are prioritizing ahead of the June 1 mayoral budget proposal.
Michelle Alersma of the controller's office described…
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