August Obligations Slightly Ahead of City’s Spending Projections
Through August of FY2022, the City has expended $356.3 million and has encumbered an additional $573.4 million. Total obligations amounted to $929.7 million or 17.6% of the $5.269 billion FY2022 budget. This is slightly higher than the annualized monthly spend of 16.6% and the City has spent $34.9 million more than for the same period in FY2021. Also, the top twelve departments with the largest budgets account for over $810.9 million, or 87.2% of the total obligations through August.
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