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San Francisco officials warn of widening budget shortfall; agencies told to prepare 10% cuts
Summary
City budget staff told the Budget & Finance Committee that a revised five-year plan shows a $245 million deficit next year and a potential $1.3 billion gap by 2027 without corrective action; departments were instructed to identify 10% general-fund reductions and contingency plans.
San Francisco's budget director and controller presented an updated five-year financial plan Jan. 17 that projects a $245 million gap in the coming fiscal year, a $554 million shortfall the next year and a cumulative $1.3 billion deficit over the plan period if no further corrective action is taken.
Anna Dooney, the mayor's budget director, joined Carol Lou of the controller's office to lay out the assumptions behind the forecast. They cited slowed tax growth'notably transfer, hotel and sales taxes'high office vacancy rates, rising health-care…
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