San Francisco Treasurer Jose Cisneros outlines budget and support for small businesses

San Francisco's Treasurer, Jose Cisneros, presented a comprehensive overview of the city's financial health and initiatives during a recent government meeting. Highlighting the office's mission to safeguard city funds and support low-income families, Cisneros reported that the local economy is gradually recovering from the pandemic, with the treasurer's office managing nearly half of the city's $14 billion budget.

Cisneros emphasized the importance of effective communication with taxpayers, which has resulted in a remarkably low delinquency rate of just 1% for property taxes and 5% for business taxes. He noted the office's proactive measures during the pandemic, including the successful launch of the "First Year Free" program for small commercial businesses, which has enrolled over 800 participants since its inception last November. This initiative waives fees for these businesses until October 31, 2025, demonstrating the city’s commitment to supporting local enterprises.

The proposed budget for the upcoming fiscal year allocates over 80% to revenue collection and treasury services, with a focus on maintaining a steady financial approach. However, Cisneros acknowledged that 22% of budgeted full-time equivalent positions are currently vacant, which could impact revenue collection efforts. To address this, the office is prioritizing hiring and implementing a racial equity plan to ensure fair access to job opportunities and promotions within the department.

Cisneros concluded by outlining the department's commitment to reassessing job qualifications and promoting internal talent, aiming to fill vacancies more efficiently and enhance the overall effectiveness of the treasury's operations. The meeting underscored the city's ongoing efforts to bolster economic security and support its residents as San Francisco continues to navigate the post-pandemic landscape.