SFHS CFO Iftikhar Hussain presents financial report amid ongoing audit

The San Francisco Health Services meeting on July 4, 2025, focused on financial updates and the ongoing audit process. Chief Financial Officer Iftikhar Hussain presented the financial report as of May 31, 2023, highlighting key developments and trends in the organization’s financial health.

Hussain noted that while claims have increased, particularly in the latter half of the previous calendar year, the current year has shown stability since January. He emphasized that the organization is not experiencing the same level of large claims as in the past, which is a positive sign for the budget. The trust balance remains stable, and higher interest rates have positively impacted interest earnings. Additionally, pharmacy rebates have increased due to higher spending, but effective auditing programs are in place to manage these claims.

The CFO projected that the organization would finish the year ahead of budget, largely due to staffing vacancies that have reduced expenses. Following the financial presentation, public comment was opened, but no comments were received from attendees or virtual participants.

The meeting concluded with a roll call confirming a quorum, allowing the board to proceed with further agenda items. The discussions underscored the importance of financial oversight and the ongoing efforts to maintain fiscal stability within the health services sector in San Francisco.