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SFPUC adopts amended FY2025–26 budget, 10‑year CIP and financial plan; forecasts years of rate increases
Summary
The San Francisco Public Utilities Commission voted to amend the FY2025–26 operating budget, seek Board of Supervisors approval for $1.054 billion in water revenue bonds, adopt an $11.06 billion 10‑year capital improvement plan and approve a 10‑year financial plan that projects multi‑year rate increases for customers.
The San Francisco Public Utilities Commission on Wednesday adopted amendments to its FY2025–26 operating budget, authorized staff to seek Board of Supervisors approval for $1,054,138,857 in water revenue bonds, approved an $11,062,520,691 10‑year capital improvement plan and adopted a 10‑year financial plan that staff said will require higher rates in coming years.
Commissioners heard presentations from Laura Bush, deputy chief financial officer, Trey Hunter, acting capital budget manager, and Erin Corvinova, financial planning director, who said the updated plan uses conservative assumptions — including a 6% assumed interest rate on future debt and lower sales forecasts — to strengthen financial metrics and protect the utility’s bond…
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