New FY 2012-14 Budget: Mayor Presents Proposed Balanced Budget

New FY 2012-14 Budget: Mayor Presents Proposed Balanced BudgetMayor Edwin M. Lee today presented his proposed two-year balanced budget for Fiscal Years 2012-13 and 2013-14. The City's first Two-Year Budget closed a projected $263 million General Fund deficit for the coming Fiscal Year 2012-13 and $375 million deficit for Fiscal Year 2013-14. The Mayor's proposed balance budget is the result of hard work and collaboration by the City's elected officials, residents, departments, community organizations, employees and a wide range of other stakeholders. 

"Because of the discipline we have put into our budget process with Two-Year Budgets and Five-Year Financial Planning, the strategic investments we have made in job creation, and our commitment to reforming our pension and health care systems, San Francisco's economy is now recovering and our reserves are growing," said Mayor Lee. "This is good news, but it did not come without commitment and sacrifice. We can now continue our investment in job creation and growing our economy while sparing the City the deep cuts we have experienced over the last several years. The hard work is not done. We must remain fiscally responsible and continue the structural reforms and good government policies we pursued that helped us get to this point. This budget reflects my commitment to innovate, create jobs and invest in our City's infrastructure, housing, small businesses and neighborhoods." Read more.

Posted on May 31, 2012 | The comments to this entry are closed.