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Supervisors continue budget hearings as departments outline cuts, agreements and realignment risks
Summary
At the second day of San Francisco Budget & Finance Committee hearings, departments from the retirement system to public safety presented budgets and long‑range pressures. Committee and budget analysts agreed on many technical reductions while public safety and corrections raised major concerns about AB 109 realignment and staffing.
The Board of Supervisors’ Budget and Finance Committee resumed its multi‑day review of the mayor’s 2011–12 proposed budget with department presentations ranging from the city retirement system to public safety and probation. Chair Carmen Chu opened the hearing and noted the committee will continue several items and host a full day of public comment on Friday.
Gary Amelio, presenting for the San Francisco Employees’ Retirement System, told the committee the system now manages more than $15 billion in pension assets and more than $2 billion in 457 accounts and emphasized that “no general fund revenue is utilized for the expenses of either trust,” apart from a $43,818 litigation carryover. Amelio said the plan’s recent audited investment return was 12.55% and that the system has recorded a strong unaudited return this year that should positively affect actuarial results.
Health Service System Director Katherine Dodd said HSS manages about $700 million in benefit spending for roughly 109,000 covered lives and…
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