Pins matching tag:Deficit

Mayor Daniel Lurie sent the supervisors a two-year $16.9 billion budget for FY2026-27 and 2027-28 that closes a $642 million deficit, eliminates 550 positions and spends reserves to keep residents on Medi-Cal and CalFresh as federal cuts land.

Passed unanimously by the Board of Supervisors for the first time in six years, the $16.9 billion budget for FY2026-27 and 2027-28 closes a $642 million deficit and cuts the city's structural gap by about $300 million.