Obligations Lower than City’s Spending Projections

Through December of FY2022, the City has expended $2.010 billion and encumbered an additional $438.6 million. As a result, total obligations amounted to $2.449 billion or 46.2% of the $5.296 billion FY2022 target budget, which is lower than the annualized monthly spend of 50%. The City does not budget monthly. The City spent $112.9 million or 4.8% more than for the same period in FY2021.  Also, the twelve departments with the largest budgets account for over $2.127 billion, or 86.9% of the total obligations through December.

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