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Controller and mayor—s team report stronger revenues; committee forwards five-year financial plan
Summary
The committee received a six-month budget status showing $21.6M of improved general fund balance from stronger property, payroll and hotel taxes and departmental savings, and forwarded the updated five-year financial plan to the full Board; a first-year shortfall of roughly $21.2M and a second-year gap of about $66.5M remain under the plan's assumptions.
The Budget & Finance Committee on Wednesday filed the six-month budget status report and voted to forward the city—s updated five-year financial plan to the full Board with a recommendation.
Michelle (Controller's Office) reported a projected $21.6 million improvement in the general fund balance driven primarily by stronger-than-expected property transfer, business and hotel tax revenues and some departmental expenditure savings, notably at Human Services. The Controller—s office…
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