Citing uncertainty caused by threats to cut federal funding to sanctuary cities such as San Francisco, Mayor Ed Lee announced updates to the city’s five-year financial plan. It includes some one-time savings, recalculations of revenue, and debt service savings, bringing savings of $114.8 million over two years. On the debit side, the city cited expectations of rising inflation, as well as increased health care costs for city employees.
“In order to protect and sustain the significant investments our city has made over the past five years, it is essential that we show fiscal discipline during this time of great uncertainty,” said Mayor Edwin M. Lee. “The presidential administration is proposing severe cuts to critical services, and while none of these proposals are concrete, we have to prepare for the future by considering tough tradeoffs.”
Supervisor Malia Cohen said “It’s important to remember that not a single federal dollar has been taken away from San Francisco by the presidential administration yet. … The presidential administration has made clear its intentions to target San Francisco. We must be prepared to make fiscal decisions that keep our city healthy and working.”
