San Francisco’s Economy Is Growing

Mayor Edwin M. Lee today issued the following statement on the City Controller’s Office Report on FY 2011-12 Nine-Month Budget Status Report, providing the most recent expenditure and revenue information and projections for the Fiscal Year End and an ending available General Fund balance of $172.4 million, representing a $43.3 million increase from the Six-Month Report projection:

“The Controller’s Report released today reaffirms that San Francisco’s economy is moving in the right direction, and our City’s economic policies are working.

San Franciscans are getting back to work and the City’s economy is growing and improving. However, the report also shows that even with a recovering economy, the City continues to face budget deficits in the years ahead.

Over the next month, we will face difficult decisions as we present a balanced budget. We will take action to ensure that as we protect vital City services, we also protect our continued economic recovery.”

Comments are closed.