SF sees ‘stark and immediate’ revenue losses over coronavirus pandemic

By Joshua Sabatini : sfexaminer – excerpt

Report projects $1.7B city budget deficit over next two fiscal years

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

Breed wrote a letter to department heads Tuesday morning directing them to begin to reduce spending.

“In order to offset these significant financial losses, I am instructing departments to help identify cost reductions and curb spending immediately,” Breed wrote.

That means that some planned projects may not move forward.

Breed told department heads in the letter to look at “pausing new programs funded in prior budgets that have not started.”(more)

The party is over.

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