Mayor Lee’s Statement on Controller’s Nine-Month Budget Status Report
Mayor Edwin M. Lee today issued the following statement on the City Controller’s Office Fiscal Year 2012-13 Nine-Month Budget Status Report, providing the most recent expenditure and revenue information and projections for the Fiscal Year End and projecting a surplus of $96 million, an improvement of $58 million over the six-month estimate, driven primarily by improvement in the City’s general tax revenues:
“The Controller’s Report helps to confirm that San Francisco’s economy is growing, recovering and moving in the right direction. Our City’s economic policies are working, and San Franciscans are getting back to work.
However, the report also shows that even with a recovering economy, the City continues to face budget deficits in the years ahead. We will have to make the difficult decisions to present a balanced budget to the residents of San Francisco over the next month. We must protect vital City services, but we must also balance those actions with protecting a continued economic recovery.”
“The Controller’s Report helps to confirm that San Francisco’s economy is growing, recovering and moving in the right direction. Our City’s economic policies are working, and San Franciscans are getting back to work.
However, the report also shows that even with a recovering economy, the City continues to face budget deficits in the years ahead. We will have to make the difficult decisions to present a balanced budget to the residents of San Francisco over the next month. We must protect vital City services, but we must also balance those actions with protecting a continued economic recovery.”