Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Controller: City—s six-month financial picture about $27 million better than December estimates
Summary
The Controller—s Office told the budget committee that the city—s six-month projection is roughly $27 million better than the Mayor—s December budget instructions, boosting the projected fund balance to about $126–127 million and prompting recommended one-time allocations for libraries and MTA.
Todd Reitstrom, director of budget and analysis in the Controller—s Office, told the San Francisco Board of Supervisors Budget and Finance Committee on Feb. 14 that the city—s second-quarter financials are roughly $27,000,000 better than the assumptions in the Mayor—s December budget instructions. "At the end of the day, for this current fiscal year, we would project that fund balance to be $126,000,000," Reitstrom said. "That net impact would be roughly $27,000,000 better than what was assumed."
Reitstrom said the improvement comes from prior-year adjustments and stronger-than-expected current revenues:…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
