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Controller: city general fund projection improves by $94M; transfer tax volatility remains a risk
Summary
The controller presented a nine‑month projection showing a $94 million improvement in the general fund ending balance, driven largely by Department of Public Health revenues and a one‑time $39M ACA payment; transfer tax remains volatile and will affect future forecasts.
Controller Ben Rosenfield told the committee the city’s most recent nine‑month projection shows the general fund ending balance improved by roughly $94 million since the six‑month report, significantly narrowing the projected shortfall for the coming budget cycle.
The improvement is primarily tied to Department of Public Health revenue performance, including…
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