The Northern Trust Company — San Francisco

Fiscal agent / debt service2 active contracts

$1.0B

paid by San Francisco, 2007–2026

Departments

What the City pays them for

The City’s own accounting categories, FY2018 on. Hatched bars are money out, but not a purchase.

RetHlthContrib sent to trusteenot a purchase$932.0M PropositionB RetHlthCarePretaxbalance-sheet line$45.4M Frnge-PropBRetHlthCare-CtyShrebalance-sheet line$21.1M Prop C Ret Health Care Pretaxbalance-sheet line$13.8M Frnge-PropCRetHlthCare-CtyShrebalance-sheet line$13.8M

9 categories in all.

In FY2025

$142.5M, in the last year with closed books.

RET Retirement SystemRetHlthContrib sent to trustee$142.3M RET Retirement SystemInvestment Services$275,261

Paid by year

'07

'09

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

'24

'25

'26·

Hatched: FY2026 is not closed yet — the bar shows payments recorded so far, not a full year.

Tallest bar — FY2025: $142.5M. Bars are scaled to this payee’s own peak year.

Who pays them

3 departments, 99.1% of it from RET Retirement System.

RET Retirement System362 vouchers$1.0B CCD SF Communtiy College Dist6 vouchers$4.9M GEN General City - Unallocated21 vouchers$4.5M

Active contracts (2)

Grantor Trust Agreement · RET · $1.0M awarded · $109,633 paid
Master Custody Account · RET · $400,000 awarded · $18,575 paid