Newsom optimistic about next year's deficit

We’ve been throwing around the number $450 million as the upcoming budget deficit, but Mayor Gavin Newsom says that’s inflated. He’s more optimistic about next year’s fiscal fiascos now that the state has moved on passing a budget.

It’s not good news for San Francisco but more importantly it’s not horrible news, the mayor said. What that means is that the cuts will still trickle down to local level, but it’s nothing that the mayor hasn’t prepared us for. The mayor’s budget advisers are still crunching the numbers to see how much San Francisco will have to cut come December, when midyear budget cuts are made.

“I think it is well within our margin of what we expected,” Newsom told reporters. ”I feel like we will be in good shape.”

The city controller is expected to release a report next week that will detail whether The City needs to make any midyear budget adjustments.

 

 

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