Mayor Edwin M. Lee today issued the following statement on the City Controller’s Office Fiscal Year 2014-15 Nine-Month Budget Status Report, providing the most recent overall revenue growth and expenditure savings for the fiscal year which demonstrates an improvement of $80.6 million over the Six-Month Budget Status Report estimate:

“The Controller’s Report confirms our economic policies are working and our strategic investments in job creation and economic growth are creating momentum. Our fiscal discipline ensures we spend each taxpayer dollar wisely as we invest in housing, transportation, and public safety and expand social services for people that need them most. With a strong economic foundation, we have a special opportunity to change this City for the better by addressing affordability and housing challenges. Even with good news, there are many demands on City funding.

The hard work is not over, and we must continue on the path of reform and fiscal responsibility to continue our economic growth, guarantee public safety and essential social safety net programs and serve our residents. We are working together with the Board of Supervisors on balancing this year’s budget, and on June 1st, we will present a balanced and responsible budget to the residents of San Francisco – one that safeguards vital City services and is affordable over the long term. We will continue to invest in our residents, and ensure that every San Franciscan shares in our City’s rising prosperity.”

After applying these funds to the prior projected shortfall, the City is projecting a $7.1 million budget shortfall over the next two fiscal years.