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Controller says budget relies on $1 billion in one‑time funding, warns of heightened risks to reserves
Summary
City Controller Ben Rosenfield told supervisors the mayor’s proposed two‑year budget depends on about $1 billion in one‑time sources and may draw reserves down to roughly 60% of pre‑pandemic levels by the end of the two‑year plan; supervisors pressed staff on telework assumptions and transfer‑tax volatility.
San Francisco’s budget team told the Board of Supervisors’ Budget and Appropriations Committee on June 15 that the mayor’s proposed two‑year spending plan relies heavily on one‑time sources and carries meaningful downside risk.
City Controller Ben Rosenfield, presenting the office’s annual revenue letter, said the revenue assumptions in the mayor’s proposal are “reasonable” but stressed the plan depends on about $1,000,000,000 in one‑time money — federal disaster reimbursements, remaining pandemic‑era funding, reserves and one‑time uses — and would draw down city reserves substantially if adopted as proposed. “Given the solutions used to balance the proposed budget in front of you, we think it’s…
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