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OCO fund receipts $22 million above budget, staff tell oversight committee
Summary
Staff reported the OCO fund brought in $296 million for FY24‑25, $22 million more than the $274 million budgeted; the committee was told the variance is primarily driven by larger‑business gross receipts tax filings and that the extra funds must be appropriated before departments can spend them.
Staff reported to the San Francisco Oversight Committee on Homelessness that actual receipts for the OCO fund in fiscal year 2024–25 totaled $296,000,000, $22,000,000 higher than the $274,000,000 the budget had assumed. The increase was attributed mainly to higher‑than‑expected 2024 homeless gross receipts tax filings by large businesses, staff said.
The presenter said the $22 million will be held in reserve until it…
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