S.F. faces $700 million deficits
S.F. faces $700 million deficit
San Francisco is struggling to close a budget gap of $483 million for the fiscal year beginning July 1.
The Controller’s Office on Friday said that the city’s budget gap will balloon to $712 million for fiscal year 2011-12 and then $787 million for fiscal year 2012-2013, assuming current service levels and policies continue.
Already San Francisco has gone through a series of service cuts, fee hikes and labor-cost paring. More cuts likely will come in the next few weeks because the city has not yet closed the current $483 million gap for the fiscal year starting July 1. By law the city must approve a balanced budget.