Overview
The position of San Francisco Treasurer is an elective office created by the City Charter in 1850. In July 1979, a charter amendment added the office and duties of Tax Collector to the Treasurer’s responsibilities. The Office of the Treasurer & Tax Collector serves as the banker, collection agent, and investment officer for the government of San Francisco, the only combined city and county in the state of California. The Office of the Treasurer & Tax Collector serves two basic functions for the citizens of the City and County of San Francisco:
Mission
The Office of the San Francisco Treasurer & Tax Collector serves as the banker, tax collector, collection agent, and investment officer for the City and County of San Francisco. Our mission is to collect and safeguard the City’s money and use our expertise to assist low-income San Francisco families build economic security and mobility.
Vision
We are committed to providing excellent services for taxpayers, customers, and our community. By promoting diversity, equity, and inclusion, we are a stronger, smarter, and more informed government agency.
Performance Measures
Accomplishments
Tax Implementation and Reform
In November 2024, San Francisco voters approved Proposition M, a landmark reform shifting the City's business tax system. Developed through an extensive public engagement process, these reforms are designed to improve fairness, provide clarity for taxpayers, and stabilize City revenues.
Proposition M shifts the calculation of gross receipts to be based primarily (75%) on sales in San Francisco, replacing a payroll-based system. This change ties tax obligations more closely to economic activity in the City and ensures a more stable, resilient revenue stream. The Office is drafting clear sourcing regulations to help businesses apply these rules consistently.
Two components of Proposition M implementation designed to provide greater clarity, certainty, and opportunity for voluntary compliance were made available. The Voluntary Disclosure and Compliance Program (VDCP) offers unregistered businesses the opportunity to voluntarily disclose and pay unpaid taxes and interest for the previous six years in exchange for a waiver of penalties for the six-year lookback period and a waiver of taxes, penalties, and interest for periods prior to the lookback period. The Advance Written Determination Program (AWD) provides clarity and predictability on issues related to tax apportionment and business activity classification for businesses in San Franisco. This new program provides clarity upfront, reduces disputes, and lowers the cost of compliance for both taxpayers and the City.
Once Proposition M passed, Policymakers decided to waive approximately $10 million in regulatory license fees, eliminating annual bills for 91% of restaurants and 87% of nightlife businesses. This Small Business License Reform reduces costs for small businesses that historically bore a disproportionate share of fees.
Citywide economic vitality
The Office is fully committed to an ongoing citywide effort to provide relief to small businesses by implementing the expansion of First Year Free to additional small businesses, with over 10,500 businesses now enrolled and more than $4.8 million in initial license and first-year permit fees waived for qualifying businesses.
Property tax revenue is one of the most significant funding sources for public safety programs. Because of comprehensive communication from the Office to property owners, more than 99 percent of secured property tax revenue was collected on time, providing billions in revenue to the City.
Accountability & Equity in Services and Spending
Over the past year, the Office advanced its commitment to economic justice through several key initiatives. The Office of Financial Empowerment expanded access to free financial counseling by relaunching services now available at every San Francisco Public Library branch. These services are open to all individuals living or working in San Francisco, providing personalized support to improve credit, access safe financial products and build long-term financial stability. residents and employees.
The Kindergarten to College (K2C) program continued to demonstrate its impact. A longitudinal study found that K2C participants experience higher rates of high school graduation and on-time college enrollment, with especially strong outcomes for historically underrepresented students. These findings reaffirm the importance of the program and our commitment to expanding its reach.
The Office also launched SF Lends, a new initiative developed in partnership with the banking community. Through a Request for Information (RFI), programs connecting small businesses directly with financial institutions to access lines of credit, secure loans, and building lasting relationships with lenders were identified. This effort is particularly valuable for small suppliers contracting with the City, helping them establish the financial resources needed to grow and thrive.
In addition, the Office continued to strengthen the AFTER Program, which facilitates juvenile restitution and ensures victims receive the payments they are owed. Building on its success, the Office plans to expand this program further in the years ahead.
Together these initiatives underscore the Office's commitment to building financial security and opportunity for San Francisco's residents, small businesses, and communities.
Business Tax & Fee Collections by Type (FY23-24)
Looking Ahead
- Completing implementation of business tax simplification and reform measures.
- Deeping partnerships with financial institutions to enhance access to fair, affordable banking and credit for residents and small businesses.
- Celebrating the 20th anniversary of the Office of the Financial Empowerment.
- Expanding use of AI and automation to streamline internal process and improve customer service.
Biographies
José Cisneros, Treasurer
José Cisneros is the elected Treasurer for the City and County of San Francisco. As Treasurer, he serves as the City’s banker and Chief Investment Officer, managing all tax and revenue collection for San Francisco. Appointed in 2004, and first elected in 2005, Cisneros has used his experience in the tech and banking industries to enhance and modernize taxpayer systems and successfully manage the City’s portfolio through a major recession.
Treasurer Cisneros believes that his role of safeguarding the City’s money extends to all San Francisco residents, and continues to expand his role as a financial educator and advocate for low-income San Franciscans through award-winning programs like Kindergarten to College, Bank On San Francisco and the Financial Justice Project. Cisneros served as Vice Chair on the President’s Advisory Council on Financial Capability for Young Americans, and is currently Co-Chair of the Cities for Financial Empowerment Coalition.
Prior to his role as Treasurer, Treasurer Cisneros served as Deputy General Manager for the San Francisco Municipal Transportation Agency. In this capacity, he managed MUNI’s $7 billion capital program designed to repair, replace and enhance system assets – including the 3rd Street Rail extension serving Chinatown, Mission Bay and the residents of Bay View and Hunters Point. Before working at MUNI, Treasurer Cisneros served as a member of the MTA Board of Directors and was instrumental in creating Proposition E, the Muni Reform Charter Amendment.
Treasurer Cisneros has a strong business background in the private sector, previously working for IBM Corporation and Lotus Development Corporation as a Senior International Product Manager. Prior to this, he was an Assistant Vice President at Bank of Boston where he managed financial product portfolios valued at over $100 million.
Treasurer Cisneros lives with his husband in San Francisco. He received his Bachelor of Science from Sloan School of Management at the Massachusetts Institute of Technology (MIT).
Tajel Shah, Chief Assistant Treasurer
As Chief Assistant Treasurer, Tajel Shah serves as Deputy to José Cisneros and manages investments, banking, cashiering, budget, solutions management, IT and human resources for the Office of the Treasurer & Tax Collector.
Ms. Shah joined the organization in January 2008. Prior to joining the Treasurer & Tax Collector, she managed policy and planning for the Department of Children, Youth and their Families for several years. Ms. Shah comes to the office with a unique blend of public and private sector experience, which includes leading global expansion for Organic Inc. – an internet company and managing several of their Fortune 500 clients. She also served as the first woman of color to lead the national advocacy organization, United States Student Association.
Ms. Shah grew up in New Jersey and holds a B.A. from Rutgers University. She lives in San Francisco with her husband and two children and serves on several boards and commissions, including the San Francisco Unified School District’s Quality Teacher and Education Oversight Committee.
David Augustine, Tax Collector
In March 2013, Treasurer José Cisneros appointed David Augustine as San Francisco Tax Collector. The San Francisco Tax Collector is responsible for all tax collection in the City and is the ex offico license collector under California law.
Mr. Augustine joined the Office in 2004 as Policy & Legislative Manager, and was instrumental in the implementation of the Treasurer’s many innovative social programs, including Bank on San Francisco, Kindergarten to College, and the Working Families Credit program. As Tax Collector Attorney he represented the office in a number of bankruptcy proceedings and coordinated collections work with the Bureau of Delinquent Revenue.
Prior to joining the City, Mr. Augustine worked in municipal public finance, and with the New York City Mayor’s Office. He holds a J.D. from Stanford Law School and a B.A. in Political Science from Swarthmore College. He is a member of the California State Bar. He has attended the Senior Executives in State and Local Government program at the Kennedy School, and has served on the IRS Advisory Committee on Tax Exempt and Government Entities. Mr. Augustine is a native of the San Francisco Bay Area and resides in San Francisco.
Amanda Fried, Chief of Policy and Communications
Ms. Fried oversees taxpayer assistance, communications, legislation and financial empowerment initiatives for the Office of the Treasurer & Tax Collector.
Ms. Fried joined the organization in October 2014. Prior to joining the Office of the Treasurer & Tax Collector, she served as Deputy Director in the Mayor’s Office of Housing, Opportunities, Partnerships and Engagement (HOPE) for Mayor Ed Lee, as a Senior Advisor to the Mayor in New York City, and as a legislative aide.
Ms. Fried grew up in Philadelphia and earned a B.A. in Political Science and Urban Studies from Stanford University, and an Masters in Public Administration from the New York University Wagner School of Public Service. She lives in San Francisco with her family.