Obligations Slightly Lower than City’s Spending Projections

Through the end of December, the City expended $1.990 billion and encumbered an additional $346.3 million. As a result, total obligations amounted to $2.336 billion or 47.9% of the $4.880 billion FY2021 target budget. This is slightly lower than the annualized monthly spend of 50%. Also, as shown in Appendix B, total obligations are 2.3 percent less than they were last December.

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