Comptroller presents annual general-obligation bond report and new watch list highlighting delayed components

The Comptroller's City Performance Unit presented its annual general-obligation (GO) bond report to the Citizens General Obligation Bond Oversight Committee, summarizing scope, schedule and budget performance across nine active bond programs and introducing a new watch list that flags components experiencing significant schedule extensions since the last report.

"On April 14, we issued the annual general obligation bond program report," Albert Lin of the Comptroller's City Performance Unit told the committee, noting the report covers a two‑year reporting period ending June 30, 2021. Lin said the office focused this year on budget changes and schedule delays, and that voters have authorized about $3.7 billion for the nine active bonds with about $2.3 billion remaining in active bonds as of the report window.

The report groups bonds into four policy areas—public health and safety, transportation, affordable housing, and parks and recreation—and calls out the Embarcadero Seawall Earthquake Safety Bond among public-safety components. A new watch list identifies bond components that have experienced more than a one-year extension since the prior report; Albert Lin and Dan Kaplan described causes that cut across programs, including regulatory requirements, multi-agency permitting, limited pre-bond planning funds and a multi-billion-dollar deferred-maintenance backlog.

Committee members asked how the report's recommendations would translate into action. Peg Stevenson of the Comptroller's office said the office can both lead discrete improvement projects and expects structural changes—such as splitting Public Works into two agencies and establishing a strengthened capital planning department—could improve citywide capital delivery. Stevenson also said the city is pursuing a cross‑agency effort to catch up on contract administration and staffing gaps created during the pandemic.

Members praised the report's format and watch-list approach and asked for follow-up to move recommendations into implementable projects. The committee discussed specific program updates (e.g., Castro Station accessibility, Better Market Street impacts) and asked Comptroller staff to continue annual reporting and to return with implementation progress.

No public comment was received on the report during the meeting and committee members requested continued updates as the office pursues next steps.