Mayor Gavin Newsom today signed a balanced budget for San Francisco’s 2010-2011 fiscal year that invests in jobs, protects public safety, and preserves the City’s social safety net for the most vulnerable – without new general tax increases. The City’s final $6.55 billion balanced budget closes the once-projected $482.7 million deficit through City government efficiencies and reforms and significant public employee union concessions.
“Once again, San Francisco has shown that by working together, we can balance our budget without new taxes, while still making vital investments in job creation, public safety, education and vital public health and family services,” said Mayor Newsom. “Working together with the Board of Supervisors and through strong partnerships with our public employee unions, we have prevented police and firefighter layoffs, invested in our roads and parks, restored funding to children and family services and protected innovative education initiatives. I extend my gratitude to Board President David Chiu and Supervisor John Avalos, Chair of the Board of Supervisors Budget and Finance Committee, for their stewardship and dedication throughout the budget process, and I salute our public employee unions for their leadership in ensuring our budget protects and serves all San Franciscans.” Read more.