Breed asks for spending cuts up to 6 percent over the next two years

By Joshua Sabattini : sfexaminer – excerpt

Mayor London Breed has asked city departments to submit plans to cut spending by up to 6 percent over the next two years to help close The City’s projected budget deficit.

Government spending is outpacing revenue growth, resulting in a projected $107.4 million budget deficit in the next fiscal year beginning July 1, and $163.4 million in the following fiscal year.

In five years, the deficit is expected to exceed $640 million. The City plans to release its five-year financial plan later this week.

To view the Five-Year Financial Plan released Friday click here... (more)