Posted on 12/24/2008 10:57:52 AM PST by SmithL
For years, San Francisco's budget challenges were met by shaving 2 or 3 percent off the municipal bill. An economy built on tourism, office towers and ever-rising real estate values cushioned the city against more severe financial shocks.
Until now. Mayor Gavin Newsom has cut $118 million via layoffs and deleted programs, with more trims possible by June if tax revenues shrink further. Then comes the real hit: a predicted $575 million gap for next fiscal year.
With a workforce of over 26,000 and a budget of $6.6 billion, these numbers may sound small. But only $1.2 billion is really on the operating table. The rest of the budget is from entities such as the airport, port or public utilities whose spending is outside of normal tax bills.
Sorting the numbers means San Francisco's situation is akin to that in Sacramento, where the state budget is out of whack by 40 percent over the next 18 months.
On the horizon are a number of options that, taken together, could get the city through hard times. New taxes, major cuts, an end to budget set-asides for protected programs and department mergers are all on tap. Getting it done will require a blend of answers and near-continuous good vibes between Newsom and a more-liberal Board of Supervisors.
How bad are things? Two indicators tell the story. The city's backlog of building permits is nearing zero, meaning construction is at its slowest point in memory. And the city is bracing for a wave of homeowners asking that tax assessments be lowered as property values sink in neighborhoods where asking prices never seemed to stop climbing.
"The day of reckoning is here," . . .
(Excerpt) Read more at sfgate.com ...
"The day of reckoning is here,"Armageddon comes to Sodom and Gomorrah
I guess they won’t be able to afford a new rainbow flag at Market & Castro next year. Boo hoo.
What do you expect from a community of ultra liberals? This is obvious stuff here.
Maybe it's because nobody wants to build in a cesspool? Just a guess.
Liberals may want to protect every other sort of animal or insect, but they sure do believe in killing every golden goose they come in contact with.
I’m surprised the story didn’t start with gays angry,outraged etc.etc.
IIRC, Sean, the one who said that the last time this happened to Sodom and Gomorrah was The Lord.
Besides, I thought San Fagscisco was awash in lavender ink, not red.
But what do I know? I'm from North Carolina. We have our own problems here with Liberals swarming in from places like Kalifornia, New Yawk, New Joisey, and Obamacago - so we can't be worried about the well deserved fate of a city that thinks unbridled depravity is the norm and life is chasing fairie tails!
SF has a budget of 6.6 billion, while San Jose at the south end of the bay has a larger population and a budget of 3.3 billion.
Nuf said.
“The day of reckoning is here,” .
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Not yet. I’m still referring homeless and illegals to SF.
They are still offering cash, housing, free food, free medical and forgivness of crime. SF welcomes all who can’t support themselves. Come one, come all. Will consider some help with one way bus tickets for large families and mental patients. SF is a wonderful sanctuary city with room for all.
that would really be pinko ink wouldn’t it?
I would say it appears SF is going into the toilet, but that would be redundant, wouldn’t it?
Maybe the liberals will try to spend their way out of a deficit?
Why not just tax K Y jelly and Vaseline?
These liberal areas with their nose in the air and a hand out for Federal money are sickening.
Until now. Mayor Gavin Newsom has cut $118 million via layoffs and deleted programs, with more trims possible by June if tax revenues shrink further. Then comes the real hit: a predicted $575 million gap for next fiscal year.A Democrats cutting spending? That is news.
San Francisco Department of Public Health Homeless Services
Providing services to people who flock from all over from lower cost locations (where they might have found housing), so that they can subsist as homeless in SF. They in their legions increase costs in myriad other ways, and lower revenue by literally repelling business, residents and tourists.
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