Posted on 11/17/2009 7:44:36 AM PST by SmithL
San Francisco's lowered home values and high unemployment rates have created another unwelcome side effect: far less revenue coming into city coffers than expected.
A report released Monday by the controller's office shows that property tax revenues will likely be $35 million less than anticipated in the 2009-10 fiscal year that began July 1. Payroll tax revenues will probably be $24.8 million less than expected, the report said.
To make matters worse, some city departments are going over budget, including shortfalls of $5.1 million in the Fire Department, $4 million in the Sheriff's Department and $3.2 million in Superior Court.
This year's $6.6 billion budget bridged a $438 million gap and included a $25 million cushion for unexpected revenue loss. But that's proving not enough to make up for the missing dollars, meaning San Francisco is now expected to be in the red by an additional $28.1 million over the course of this year.
"I don't even know if I have words to describe how bad this is," said Steve Kawa, Mayor Gavin Newsom's chief of staff.
Kawa said the mayor's office will send out letters to department heads today outlining how much spending will need to be cut to balance this year's budget. Another round of letters will go out to department heads Thursday describing how much more will have to be cut for the 2010-11 year. City officials will formally begin discussing next year's budget in the next few months.
(Excerpt) Read more at sfgate.com ...
Let’s have a monster typhoon and start again from scratch. Hopefully, that will include Oakland, Berkely, Richmond, etc.
The unemployeed are bouyed up by the hope that the stimulus package will kick in any day now.
When you elect a Pelosi you will have to suffer the consequences. Pelosi and Obama and your day of reckoning comes at you like a rocket.
HEY!
The talking point is "less than expected"
Stick to the script and don't try and change it without further approval from Dear Leader.
I would add these items NOT to be cut:
1) Diversity training
2) Gay and Lesbian services
3) Folsom Street Fair
4) Pay increases for city workers
5) 6 figure retirement plans for senior employees of city
6) Green Initatives
7) Equal Opportunity Seminars
8) Trans gender Services
9) Military free zone studies
10) Homeless assistance
One excellent way to save the city money, while improving the body politic there: cannibalism.
Couldn’t happen to a more deserving place.
Now we know why Gavin is so glum of late,, beside getting out of the Gub race, having to change diapers on his newborn, and now this,,
We’ve never had a Mayor jump off the Golden Gate that I know of.
Maybe some day, things in S.F. will get bad enough that it undergoes some sort of conservative “gentrification”, where relatively adult, responsible, non-socialist human beings will start buying out the current S.F. residents, slowly transforming the city into the incredible place it should be, and once was? It is such a beautiful area - it’s a shame to see it (and many of the residents who don’t support the local politics) suffer under the rule of liberalism.
Property values will have to plunge before this will happen. Right now the high valuations are driven in large part by people's desire to be in S.F. to enjoy the various "cultural" amenities. Many of these amenities are far less valuable to non-socialists.
City workers can get their sex change operation paid for by the city.
If they have a domestic partner, then the city will pay for the sex change of that partner.
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