Balancing the Budget
There is no more important topic than our City’s fiscal soundness. San Francisco as strong as it is, is not immune from the macroeconomic challenges this recession causes. Balancing the City’s budget and making structural changes to the City’s benefits programs in order to be able to continue to provide needed City services over the long term are key priorities.
This is a challenging time for our City, and we are working hard to make sure we balance the needs of our constituents while ensuring the City’s financial solvency.
I want to make sure that we are a safe, solvent and successful City in our efforts to balance the City’s budget.
A Safe City. Ensuring our City is safe is a principal responsibility of government. We want to maintain projects that will enhance the safety and security of much of the City’s infrastructure. A safe city also refers to our City’s social safety net. We must provide a basic level of support and services to youth, families, seniors and others who need it most.
A Solvent City. While we continue to invest in our infrastructure, a familiar financial picture is evident: if we do not take action to address our growing pension and benefit liabilities, the rapid growth in our employee costs will soon restrict our ability to make the investments our City needs for the future.
A Successful City. A successful city is one that creates an exciting, unique and enjoyable environment for its residents and visitors. Despite our economic challenges, we know San Francisco can continue to be successful.
Our Progress
On June 1st, I submitted a balanced budget for the City’s General Fund departments to the Board of Supervisors, which will close a $306 million General Fund budget deficit. This proposed balanced budget is about building a foundation to keep San Francisco moving in the right direction and keeping our City safe, solvent and successful. While our economy is stabilizing, we must continue to steer the City back toward long-term, fundamental financial health. That is why we have developed a Five-Year Financial Plan and are implementing two-year budgeting. I am proud of the investments we are making in the people of San Francisco, in job creation, public safety and the social safety net. There is much more work to be done in the coming weeks, and I will continue to work to make sure that our budget is a reflection of our City’s values.
The balanced budget continues to invest in people and infrastructure and includes a spending plan for the first phase of preparation for the 34th America’s Cup, an international sailing event in 2013. The event will bring in an estimated 250,000 visitors to San Francisco, generate more than $1.4 billion in economic activity to support local businesses, and continue the revival of the City’s eastern waterfront. In addition, this budget marks the start of San Francisco’s Local Hire program, which ensures that publicly-funded infrastructure projects in San Francisco employ City residents. This budget continues funding for the landmark JobsNOW! Program, which has created jobs for thousands of City residents and families, and is funding apprenticeship and job programs in the departments of Public Works, Recreation & Parks and Environment to put people back to work. I am also working with the Board of Supervisors to develop a strategy for revitalizing neighborhood commercial districts and filling empty storefronts.
The budget proposes a total of $308 million in infrastructure investment, including enhanced disability access, rebuilding jails, and energy efficiency in City buildings. In addition, I have proposed a $248 million General Obligation bond for the November 2011 ballot to begin reducing the backlog of much-needed street repairs. If approved, it will provide an additional $53 million in the coming year for street improvements.
For more information on the Proposed 2011-2012 Budget, please click here.
Visit the following pages for more information:
Controller’s Office
Board of Supervisors Budget website