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Committee releases most of $43M reserve to departments and hears a $483M general-fund shortfall in three-year joint report
Summary
The Budget & Finance Committee approved releasing about $42.6 million of a midyear reserve to departments, leaving approximately $516,354 for emergency-management needs, and received a joint three-year projection that shows an estimated $483 million general-fund shortfall for the coming fiscal year with larger gaps in the next two years.
The Budget & Finance Committee voted to release most of a $43 million midyear reserve to city departments and then heard a joint three-year budget projection that preserves uncertainty about state and federal revenue.
Chair Supervisor John Avalos said the reserve had been set earlier in the year to protect the city nd county—udget while the board and mayor finalized a large restoration package. The budget analyst recommended releasing $42,601,750 and continuing to reserve $516,354 for the Department of Emergency Management; the committee agreed and the chair…
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