San Francisco experiences $125 million price range surplus this fiscal 12 months

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The hole was stuffed by greater than anticipated property tax income, elevated federal reimbursements and decrease bills. Friday’s replace was a uncommon bit of fine information for town’s $13.1 billion price range, which has been ravaged by the pandemic over the previous 12 months. However the metropolis nonetheless seemingly faces a greater than $500 million deficit over the subsequent two years, which is able to must be bridged in some way.

The Board of Supervisors and Mayor London Breed struggled to fill two huge holes within the fall and winter, however nonetheless managed to keep away from service cuts and layoffs — whether or not that can be potential over the subsequent few years isn’t but clear. The town has 36,000 workers.

“These are robust occasions, however may very well be a lot worse,” Supervisor Aaron Peskin mentioned. “We’ve fallen off a cliff, it simply seems to be a shorter cliff.”

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