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Budget office warns of persistent $100M-plus gap as state realignment and cuts create uncertainty
Summary
Mayor's Budget Office told the Budget & Finance Committee that despite some local revenue gains, projected state cuts and uncertainty over tax extensions and realignment leave the city with a substantial deficit — even after department targets and contingency proposals — requiring difficult trade-offs ahead of the June 1 submission.
Carmen Chu, chair of the Budget and Finance Committee, opened the committee’s review of the city’s near-term fiscal outlook as the Mayor’s Budget Office described continuing uncertainty from the state budget and the possibility of realignment taking effect July 1.
Greg Wagner, the Mayor’s Budget Director, said the joint report that will update deficit projections is expected within one to two weeks but cautioned the city still faces a “very substantial deficit.” Wagner said the city has identified about $70–75 million in citywide solutions and roughly $80 million…
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