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Controller reports $250M projected general‑fund balance at nine months; rainy‑day reserve will be strengthened
Summary
The Controller’s nine‑month report projects an approximate $250 million general‑fund year‑end balance and increased rainy‑day reserve deposits; revenue improvements at DPH and HSA and hotel tax gains contributed to better‑than‑expected results, though transfer‑tax volatility and gross‑receipts implementation in June present risks.
Controller Ben Rosenfield presented the city’s nine‑month status report, projecting a fiscal‑year ending general‑fund balance of roughly $250 million — an improvement of about $42.9 million from the six‑month update. The Controller attributed most of the improvement to departmental revenue and settlement items, notably a $12 million settlement in the Department of Public Health and prior‑year Medi‑Cal…
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