Any good news about the budget is short-lived.
Earlier this month, the controller put out a report showing San Francisco was in better shape financially for the midyear than lawmakers were expecting.
In fact, it showed we had a surplus of some $20 million, which probably didn’t go over well with the labor unions.
But now, Mayor Gavin Newsom’s budget adviser is crunching the numbers — again — after the state came out with a revised budget outlook, and not surprisingly, the picture isn’t as pretty as we thought. With a more than $400 million budget deficit estimated next year, should San Francisco brace for more cuts? Yes.
Stay tuned until next week when the mayor is expected to make some announcements about the budget projections.