Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Controller says San Francisco—s six-month report shows improved balance driven by transfer-tax surge; warns on volatility
Summary
City Controller Ben Rosenfield told the Budget & Finance Committee the six-month FY2016-17 status report projects nearly $300 million ending general-fund balance and a $54 million improvement versus prior reforecast, driven mainly by transfer and property tax gains; he warned of continued volatility and department overtime overages.
City Controller Ben Rosenfield told the Budget and Finance Committee on Feb. 14 that San Francisco—s six-month fiscal status shows material improvement for the current year but also continuing uncertainty.
Rosenfield said the city now projects just under a $300 million ending general-fund balance at midyear, roughly $72 million better than the five-year forecast assumptions and about $54 million better than the assumptions underpinning the mayor—s rebalancing plan. He attributed most of the upside to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
