California News Northern California

San Francisco Projects $288M In Losses Over Coronavirus Pandemic

San Francisco Examiner-

San Francisco projects losses of up to $288 million in the current fiscal year alone due to the toll the coronavirus has taken on the local economy, according to a new report.

“Financial losses associated with the emergency have been stark and immediate, and the level of uncertainty of both City revenues and expenditures is historically high,” said a joint memo from the City Controller, Budget Analyst and Mayor’s Budget Office. “Our offices provide this March outlook as a planning tool for the Mayor and Board of Supervisors to begin navigating these challenges.”

The report projects a loss in the current fiscal year, which ends June 30, of an estimated $167 million to $287 million.

Read More

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: