SFPUC adopts two‑year operating budget, two‑year capital budget and 10‑year financial and capital plans

The San Francisco Public Utilities Commission on [date] voted to adopt a biannual operating budget, a two‑year capital budget, a 10‑year capital plan and a 10‑year financial plan after staff described a series of tradeoffs intended to balance infrastructure needs and ratepayer affordability.

Finance staff told commissioners the operating budgets for the next two fiscal years total approximately $2,166,698,799 for the first year and $2,344,066,873 for the second year and that the two‑year capital budget totals about $1,163,787,041 in year one and $1,316,552,550 in year two. Staff said roughly 70% of the 10‑year capital plan will be financed by debt and recommended authorizing the general manager to seek Board of Supervisors approval for debt issuances associated with the capital program; some bond authorization figures in the staff readout were not fully legible in the record and are not specified here.

Erin Corfinova, the commission’s financial planning director, summarized key assumptions…