Wednesday, April 1, 2009

San Francisco's Three-Year Budget Projection Through 2012

As we write this, the Controller's Office is presenting their three-year budget report to the San Francisco Board of Supervisors. You can find the report here. You can watch the presentation here.

In reviewing the report, the city's budget outlook is looking rather grim (using the FY 2008-2009 budget as a comparison):

FY 2009-2010 projected budget deficit: $438 million

FY 2010-2011 projected budget deficit: $615 million

FY 2011-2012 projected budget deficit: $746 million

Some key assumptions in the report:
  • No major changes to service levels and numbers of employees;
  • Economic downturn impact on revenues continues through 2009, followed by slow
  • $18.4 million more in State funding reductions in FY 2009-10 compared to FY 2008-09;
  • No change in closed labor agreements and inflationary increase on open labor
  • No Rainy Day reserve withdrawals assumed.

All the details can be found in the report.

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