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6.A. - Page 76 of 114 "hotel tax") (Measure FF)618 and to impose a business license tax on commercial cannabis operations (Measure LL).619 Measure FF is projected to increase revenues by approximately $5.9 million per year. 620 The City is not currently planning on putting any new revenue enhancement ballot measures before voters in the near future. Pension Obligation Bonds — South San Francisco South San Francisco does not have any outstanding pension obligation bonds.621 General Fund Reserves - South San Francisco South San Francisco's general fund unassigned reserves balance at the end of FY 2017-18 was $19.64 million,622 which represented 16.5 percent of the City's $118.87 million in general fund revenues for the year.623 The City's reserve policy is to have general fund unassigned reserves equal to between 15 percent and 20 percent of general fund operating revenues. 624 The City projects general fund revenues in FY 2018-19 of $109.05 million and that these revenues will increase to $127.38 million in FY 2023-24, and to $141.68 million in FY 2027-28.625 The City further projects that its general fund reserves will increase from $21.21 million (representing 19.5 percent of operating expenses) at the end of FY 2018-19 to $25.12 million (representing 19.7 percent of operating expenses) in FY 2023-24, to $28.98 million (representing 19.7 percent of operating expenses) in FY 2027-28.626 Term Financial Forecast — South San Francisco South San Francisco's long-term financial forecasting period is 10 years. 62' The City's long-term financial forecast is not included in its FY 2018-19 budget. 628 In order to find its forecast online, it is necessary to manually search agenda packages from the City Council calendar of meetings (listed at hqps://ci-ssf-ca.legistar.com/CalendqLaspx)621 for references to budgets and/or forecasts. That search of the City's online City Council meeting agendas 618 Ballotpedia, Local Ballot Measures, South San Francisco, California, Measure FF, Hotel Tax Increase (November 2018). 619 Ballotpedia, Local Ballot Measures, South San Francisco, California, Measure LL, Marijuana Business Tax (November 2018) 621 South San Francisco, Staff Report for City Council meeting on April 9, 2019 re: Study session regarding a comprehensive financial review of the City of South San Francisco, including pension costs, p. 6. 621 Email from South San Francisco, dated June 14, 2019. 622 South San Francisco, Comprehensive Annual Financial Report for Year Ended June 30, 2018, pp. 32 & 74. 623 cold., p. 36. 624 mid., p. 74. 621 Attachment 8, p. 1 to South San Francisco, Staff Report for City Council meeting on April 9, 2019 re: Study session regarding a comprehensive financial review of the City of South San Francisco, including pension costs. 626 Attachment 8, p. 2 to South San Francisco, Staff Report for City Council meeting on April 9, 2019 re: Study session regarding a comprehensive financial review of the City of South San Francisco, including pension costs. 627 Attachment 8 to South San Francisco, Staff Report for City Council meeting on April 9, 2019 re: Study session regarding a comprehensive financial review of the City of South San Francisco, including pension costs. 628 South San Francisco, Adopted Operating Budget for Fiscal Year 2018-19. 629 Last accessed on May 10, 2019. 2018-2019 San Mateo County Civil Grand Jury 69 M