San Francisco is set to create a $400 million reserve fund to shield itself from anticipated federal budget cuts as proposed by Congressional Republicans. Mayor Daniel Lurie emphasized the importance of planning for the city’s financial recovery and preparation for future challenges. The fund is drawn from existing reserve funds, which had previously been allocated to the general fund for everyday city operations. Local officials express concern over the city's $782 million structural deficit, and the reserve aims to provide a measure of financial security during uncertain economic times.
"With the right planning, we will advance our city's recovery and make sure San Francisco is prepared for the challenges that may lie ahead."
"But with the federal government, we are left with no good options."
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