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Controller reports $63 million better-than-expected six-month picture; rainy-day deposits triggered
Summary
Controller Ben Rosenfield told the committee that six-month projections improve the general fund ending balance by about $62–63 million, driven by stronger property and hotel tax receipts and departmental savings; the report triggers rainy-day reserve deposits and reduces the Mayor's projected two-year deficit when split across years.
Controller Ben Rosenfield presented the Controller—s six-month status report, saying projected general fund available balance at year-end had improved to about $208 million, roughly $62–63 million higher than assumed in the Mayor—s budget instructions.
Rosenfield and Michelle Alersma (budget analysis) attributed most of the improvement to stronger property tax and hotel-tax receipts and to…
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