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Controller warns San Francisco budget relies on $1 billion in one‑time sources; flags reserve drawdown and downtown tax risks
Summary
City Controller Ben Rosenfeld told the Budget & Appropriations Committee the mayor—s two‑year plan depends on roughly $1 billion of one‑time revenue and would draw down reserves by about 40% versus pre‑pandemic levels if adopted as proposed. He highlighted risks from uncertain business taxes tied to downtown return‑to‑office and volatile transfer taxes.
Ben Rosenfeld, San Francisco—s controller, told the Budget & Appropriations Committee on June 15 that the mayor—s proposed two‑year budget relies heavily on one‑time revenue and carries elevated risks as the city moves beyond the pandemic. "The budget is heavily reliant on one‑time sources," Rosenfeld said, noting roughly $1,000,000,000 of one‑time federal reimbursements, disaster funds, reserves and fund balance underpin the plan.
Rosenfeld and Carol Lou, the controller—s revenue manager, said reserves would be drawn down…
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