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Three‑year projection shows modest first‑year shortfall but improved outlook for San Francisco general fund
Summary
Controller’s joint report projects a $25 million shortfall in the first year (FY 2007–08), a larger shortfall the following year, and a return to surplus in year three; the report credits revenue growth and one‑time fund balance while warning of volatility in property transfer tax.
The San Francisco Board of Supervisors Budget & Finance Committee on April 1 received a joint three‑year budget projection that forecasts a $25,000,000 shortfall in the first projected year but a turnaround to a small surplus in the third year.
Todd Reekstrom of the Controller’s Office told the committee the first‑year shortfall represents “a little less than 1%” of the roughly $3.3 billion in general‑fund‑supported spending and is substantially smaller than the multi‑hundred‑million shortfalls the city faced during the recession. He…
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