SAN FRANCISCO May 9 San Francisco Controller
Ben Rosenfield said on Thursday the city would end its current
fiscal year running through June with a budget surplus of $96.0
million, or $58 million above his office's previous estimate.
Gains in revenue from payroll and property-transfer taxes in
particular have been filling San Francisco's coffers more than
anticipated, Rosenfield said, adding that a larger surplus would
help the city tackle its budget gap for the fiscal year
beginning in July.
Next year's shortfall had been forecast at nearly $124
million. Rosenfield said his office is working on a revised
deficit estimate for Mayor Edwin Lee, who must submit a plan for
a balanced budget to the city's board of supervisors by June 1.