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Mayor—s budget office flags roughly $420 million two-year shortfall and orders efficiency targets
Summary
The mayor—s budget office told the Board of Supervisors Budget & Appropriations Committee the joint five-year financial plan shows an approximate $420 million two-year deficit and instructed general-fund departments to propose efficiency and reduction options (3.5% rising to 7%) while prioritizing housing, shelter and services for people living on the streets.
Kelly Kirkpatrick, the mayor—s budget director, told the Budget & Appropriations Committee on Feb. 5 that the city—s joint five-year financial plan projects roughly a $420,000,000 two-year deficit and that revenue growth is slowing while expenditures continue to outpace it.
"It is approximately $420,000,000 2 year deficit," Kirkpatrick said, and added the gap is meaningfully higher than recent budget cycles, which had two-year deficits nearer $270,000,000. She attributed the larger shortfall to moderated revenue growth and rising personnel and benefit costs.
The presentation said revenues are projected to grow at about 7% over the forecast while expenditures were illustrated at a steeper pace in the office—s slides. Kirkpatrick highlighted several expenditure drivers: negotiated wage increases, rising pension contributions, and health-care cost inflation. The…
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