It’s not just the state of California that is facing a big budget deficit. San Francisco’s own projected deficit keeps growing. Just last month, Mayor London Breen announced she was looking for a 10% budget cut to deal with a projected deficit of $800 million.
City budget officials have projected a deficit of $800 million over the next two fiscal years, with spending expected to significantly outpace revenue. The shortfall reflects increased spending alongside high office vacancies, stagnating tax revenue, increasing disputes over business taxes and dwindling federal aid tied to the pandemic, according to the Mayor’s Office.
Breed is directing departments to propose 10% reduction in spending from the city’s General Fund and an additional 5% for “contingency,” according to a summary released by the Mayor’s Office Tuesday.
The city’s estimated $800 million deficit…
