SFHSS financial report: trust balance healthy but modest year‑end decline projected

At its June meeting the San Francisco Health Service Board received a financial update from Chief Financial Officer Iftikhar Hussain showing the trust fund balance at approximately $105 million as of April 30, 2023.

Hussain said projections anticipate a $2 million net reduction by the end of the fiscal year, and that timing differences in pay periods had produced a $10 million interim increase in the ten‑month comparison that is expected to reverse. Medical claims are running higher in one plan (Blue Shield Access Plus HMO) while other plans, including Trio and the PPO, remain below expectations. The sustainability fund is projected at about $2.7 million at year‑end. Hussain also reported a roughly $1.5 million general‑fund surplus attributable to vacancies and lagged interdepartmental charges.

The CFO said the annual audit process had begun and that staff expects to present audit results in November. He also noted recruiting work orders to the Department of Human Resources have helped accelerate hiring to reduce call‑center backlogs.

Commissioners asked about audit timing and staffing impacts; Hussain confirmed audits typically complete by September with board presentation in November and described vacancy mitigation strategies.