Poof, There It Goes: Up to $142 million in city revenue is "uncertain"
|SF will discover, plant these|
This all rests on the notion that you will actually eventually have, and as the City Controller warned on Thursday, San Francisco is betting heavily on having $142 million, none of which is at all guaranteed.
In a letter sent out to city officials on Tuesday, Controller Ben Rosenfield said Mayor Gavin Newsom's plan to erase a half-billion dollar deficit is "reasonable," but presented the following three cautions:
- $123 million is federal funding, none of which is guaranteed;
- $30 million is what the city expects the state to take away, and with an $18 billion deficit at the state level, Sacramento could take more;
- $19 million is fees and taxes proposed, but not yet approved by the Board of Supervisors.
On top of that, exhausting "one-time" revenue sources like the Rainy Day fund -- so much for all that, by the way -- kick hard financial decisions down the road to future budget years, all of which are projected to be shit.
Expect this dire forecast -- and any of the other dire forecasts which comprise a giant shit-heap of dire forecasts -- to be used as ammunition in the brewing political fight over tax measures progressives want to put on the November ballot.
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